Techno-News Blog

June 17, 2013

Crowdfunding Academic Research

Filed under: Uncategorized — admin @ 12:15 am

By Lauren Ingeno, Inside Higher Ed

Though there are differences from one platform to the next, crowdfunding sites function similarly: A person posts a description of his or her idea asking for small contributions from the community at large, and those who feel passionately about the project can donate. The fund-raiser is usually given a specific amount of time to reach his or her goal, or the backers are not charged. Typically the crowdfunding site receives a percentage of the amount the fund-raiser earns, and backers can receive “rewards” from the fund-raiser for pledging certain amounts of cash. Kickstarter, which launched in 2009, is the world’s largest funding platform for artists, musicians, filmmakers and designers. While many projects fail, some have found massive success on the site — like a video game that gained $4,188,927 from 74,905 backers. Replicating Kickstarter’s model, websites that are used specifically to crowdfund scientific or technology-based projects have launched in recent years. Some of these sites include iAMScientist, Microryza, Petridish and FundaGeek.

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