CROWDFUNDING for RESEARCHRUN PILOT

Dr Janette Corcoran

“ Deloitte predicts that crowdfunding portals

will raise $3 billion in 2013,

double the $1.5 billion raised in 2011 ”

Deloitte Technology, Media & Telecommunications Predictions 2013

YES - we can …

Develop and conduct a campaign

Receive funds via paypal & credit cards

(BITCOIN??)

Organise Tax Receipts for donors

Include funds as “Research Income”

Utilise existing authorisation protocols

Crowdfunding Value Proposition

It is a desire for participation that lies at the heart of crowdfunding:

“People contribute to campaigns for many reasons, but usually it's because they want

to be involved in what the campaign is doing

… or because they want the perks.”INDIEGOGO

“WHY MIGHT CROWDFUNDING be of POTENTIAL BENEFIT to RUN?”

“In addition to the support that may be generated for research, crowdfunding would also offer the following benefits:

Build partnerships within regions based on “embeddedness”

Draw communities of interest together

Provide direct feedback on perceived importance of research

Provide a “litmus test” of the depth of regional engagement

Foster collaboration within & between RUN members and respective regions

Enhance skills of researchers as “social entrepreneurs” & in “selling” their research

Contribute and evidence “impact” … “

The benefits we claim:

Target funding achieved: $25 000 (less charges)

Awareness raising (eg project + school)

New connections & collaborations

Culture change (eg inter-school interactions)

Opportunity for “agility” strengthening

“Impact evidence”

More than 20,000

people became

Founding Friends of

the Council

raising more that

$1million

in just over a week

RUN Crowdfunding Possibilities

Crowdfunding for:

• Shared academic positions (Alumni potential)

• Shared Infrastructure (matched funding)

• Regional “causes” (university as facilitator)

• Capability developed in learners (part of

educational offering eg marketing)

• “Evidence of support/appeal” (funding bodies)

The proposal ….

“This two part approach requires

the buy-in of RUN members & the establishment of a team of

collaborators across

interested RUN members

for the second part of the study.”

POTENTIAL MODEL ??

“The features of crowdfunding suggest that it might be particularly applicable to regional universities which strive to build a strong sense of engagement within their respective

regions.

RUN partners are in a unique position to pool resources and collaborate in using

crowdfunding to support research within their respective regions.”

Dr Janette Corcoran

November 2013