GIVE ME SOME MONEY…(PLEASE) How to crowd fund your scientific research or at least part of it. EEB Meeting November 9th, 2012
What is crowd funding youask?The solicitation of small donations from alarge number of people for speciﬁc targeted projects.
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 Museum 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
Some Past Examples Watching Clouds in the Cloud Forest Healthy Trees, Diverse Forests
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…
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-FundChallenge
The Future of Science? http://scifundchallenge.org/blog/2012/05/09/crowdfunding-is- the-future-of-science/
Hack E-Science Librarianship BlogFor 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@example.com