crowdfunding scientific research
TRANSCRIPT
GIVE ME SOME MONEY…(PLEASE)
How to crowd fund your scientific research or at least part of it.
EEB MeetingNovember 9th, 2012
What is crowd funding you ask?
The solicitation of small donations from alarge number of people
for specific targetedprojects.
What else?
An old concept revitalized in the late nineties by the British band Marillion
Similar to micro-financing initiatives but with more flexibility
Revolutionized in 2009 by Kickstarter.com
How does it work? Platform. Dollar target for the campaign. Campaign length. Compelling story. Video. Rewards. Plan to get people to your
campaign.
This seems like an appropriate time for a cartoon
Kickstarter Supports creative projects of all sorts
Over $350 million has been pledged by more than 2.5 million people, funding more than 30,000 creative projects
All-or-nothing funding
Rewards for funders
http://www.kickstarter.com/
Indiegogo
Flexible funding
“All about allowing anybody to raise money for any idea”
Offers “perks” for funders
http://www.indigogo.com
Famous Campaigns Let’s Build a God Damn Tesla Museu
m
Robo Cop Statute in Detroit
Wait. What does this have to do with Science?
The current rate of funding for science proposals in the U.S. is ~20%. The current rate for funding statues of RoboCop in Detroit is 135% – to the tune of $67,436.
Decreases in Federal Funding
Why Crowd Fund Science?
Micro-donations will make hundreds of research projects possible, projects that otherwise would have to wait for funding or not be funded at all.
Research projects that are limited in scope and time and for which small dollars are required, can be made possible
Need more reasons?
Researchers will gain more visibility, connect with a wider audience of donors and enhance public knowledge of their work
Funds from donors can speed the process of investigation and lead to faster scientific breakthroughs
How about two more?
The general public has an easy and cost-effective way to advance scientific research that personally appeals to them.
People can be more engaged with ground-breaking research, by learning about and funding a scientist and his/her work.
Crowd Funding Platforms Dedicated to Science
Some success with Kickstarter
http://www.petridish.org
http://www.sciflies.com
SciFund Challenge
Petridish
Sample Project
5% fee
All or Nothing Funding
http://www.petridish.org
Sciflies
Sponsored by the University of South Florida
No fees
Famous user
Proposals are reviewed by an anonymous panel of scientific experts, adding prestige to the process
SciFund Challenge Sponsered by yet another platform, Rockethub.
Spearheaded by two ecologists in 2011
Uses a critical mass approach to crowd funding
Cohorts are given support and collective media coverage
Round three starts November 11th
http://scifundchallenge.org/
Some Past Examples Watching Clouds in the Cloud Forest
Healthy Trees, Diverse Forests
Success Rate
The basics:Round Days Projects Projects funded Percent funded Total raised1 45 49 10 20.4% $76,2302 31 75 33 44.0% $100,345
Keys to Success Contact everyone you know!
Take the time to make an engaging video
Make your project sound relatable and lay off the esoteric language!
Be realistic with your fundraising goals$100,000? Not so much…
Importance of Social Media
Helpful Resources http://
www.indiegogo.com/crowdfunding-tips#started
http://www.kickstarter.com/help/school#setting_your_goal
http://scifundchallenge.org/blog/category/about-the-challenge/
Potential Pitfalls Some worry that only projects with splashy
campaigns will be funded
Easier to generate interest in cute and cuddly animals than in the “Isoline Retrieval of Ozone in the Stratosphere”
Lack of Peer Review
“Dumbing down of science” to appeal to the general public
Something to Think About
“It is absolutely true that a few thousand dollars is not a lot of
money for a senior scientist. But if you are a graduate student, money
is much tighter and a few extra thousand dollars for your research
can make all the difference.”-Dr. Jai Ranganathan, Co-Funder Sci-Fund Challenge
The Future of Science?
http://scifundchallenge.org/blog/2012/05/09/crowdfunding-is-the-future-of-science/
Hack E-Science Librarianship Blog
For more information and lots of links!
http://hackescilibship.wordpress.com/2012/10/03/crowdfund-this/
For access to this presentation, please e-mail me at [email protected]