CrowdFunding is Boost, Not Replacement, for Government Aid in Science

CrowdFundbeat News Wire

The Conversation, Lorraine Warren

Crowdfunding is Boost, Not Replacement, for Government Aid in Science

In a recent article in Times Higher Education, it was argued that crowdfunding could threaten government investment in science and research.

Joe Cox, an economist from the Univ. of Portsmouthsuggests that the practice of academic crowdfunding – where researchers ask members of the public to back their project by making a donation – has the potential to complement existing funding mechanisms such as competitive grants, but also warns that it could be viewed by the government as a way to cut spending.

If scientists are making a pretty penny from an enthusiastic public, the pressure on government coffers could be reduced. And if this were to happen, Cox points out, “dryer” topics might be less successful at attracting money from the general public, even if they are academically valuable. That could put certain fields under strain and cause problems later on in the innovation cycle.

The growth of crowdfunding as a mechanism for supporting research could therefore change the shape of scientific development. Obtaining funding, from whatever source, is dependent on articulating what the proposition holds for the funder. Discrete, attractive projects in areas such as the creative arts, or socially valuable technologies, naturally appeal to the general public. There is no wider obligation for crowdfunding investors than simply giving money for what they like. That often means a striking new piece of technology or a project that aims to cure a disease that they might one day contract. The government has broader responsibilities. It has to fund a wide range of research in order to fuel economic growth, cultural understanding and social progress.

At a recent Dragon’s Den-style competition in Southampton, the winner, Benjamin Mawson, gave an eloquent account of his 3DBare project, describing how users could walk inside music. The runners-up, BluPoint, a system for storing digital content like music and making it available on phones via Wi-Fi, and WaterWell, a digital water management system, gave equally powerful accounts of the social value of their projects.

It would be easy to see projects of this kind doing well from crowdfunding, were they to go down that route. They address social problems or offer a digital solution to an everyday need and would sit well among some of the non-academic projects that are to be found on sites such as Kickstarter. One academic project that had great success on Kickstarter is the Flying Car, a project that aims to build a mini helicopter-car hybrid. This broke its fundraising goal by miles and, in the end, attracted more than £120,000 in donations. It’s not hard to see why.

The harder sell

Source and more

Tags: , , , , ,


ForbesHow Crowdfunding Can Supercharge Your Campaign In 2016ForbesThey say that there are about 7.45 billion people living in this world right now. Imagine that if you could get each of these seven-and-a-half billion people to contribute one cent to your project, well, you know what I [...]

ForbesHow Crowdfunding Can Supercharge Your Campaign In 2016ForbesCrowdfunding has helped a lot of businesses recently. Want to join the queue? Here's how to raise funds for your projects.and more » [...]

The Jewish Press » » Funny Jewish Women's Crowdfunding Video ...The Jewish PressThe Women's Performance Community of Jerusalem and OU Israel are creating harmony among the women of Greater Jerusalem through the creation of a ...and more » [...]

BdailyAndy Murray has invested in UK startups WeSwap and Perkbox through the Seedrs crowdfunding platformBusiness InsiderTennis star Andy Murray has backed two more early stage UK tech companies on crowdfunding platform Seedrs, bringing his startup portfolio up to 17 companies. The wo [...]

Corporate Counsel (registration)FTC Hears From Company Leaders as Crowdfunding Grows ...Corporate Counsel (registration)"You're going to see people developing an expertise and really move on from this initial stage of everyone kind of exploring crowdfunding in a more general [...]

Singularity HubHow Crowdfunding Has Changed the Startup Game - Singularity HUBSingularity HubThe development of innovative technology — from virtual reality headsets to space exploration to solar-powered roadways — is no longer the province of ...and more » [...]

KNWACrowdfunding Sends NWA Family to Wrigley - Story | NWAHomepageKNWAThis World Series matchup features the two franchises with the longest world series title drought, a combined 176 years without a championship.and more » [...]

BillboardCrowdfunding for His Life: How GoFundMe Helped Save a Punk Legend's LifeBillboardSo on the advice of a close friend, Julian -- like an increasing number of aging musicians without a lucrative record contract -- turned to crowdfunding, launching a campaign on the No. 1 pl [...]

Minneapolis Star TribuneSEC releases new, relaxed rules on investment crowdfundingMinneapolis Star TribuneNew rules announced this week will make it easier for small companies to raise capital from small-time investors, another step forward for Minnesota's fledgling investment cr [...]

The GuardianCrowdfunding: the new buzzword for academics needing research moneyThe GuardianArchaeologist Dr David Petts, from Durham University, has also used crowdfunding, raising almost £25,000 to fund a project on Lindisfarne, off the Northumberland coast. The dig, in June, led to [...]

CFB Finance

Press Release

CrowdFund Beat News

Hello @CrowdFundBeat's 17363 followers - thank you so much for following! Wishing you all a happy Thursday! >>

Live Crowdfunding .tv

What's Next Step in Regulation A+ JOBS ACTS Title IIII :L Interview : Steve Cinelli with Brian Korn Securities and Crowdfunding/Peer-to-Peer Lending Lawyer, Watch more video library | Conference | Interview | Campaign Showcase | Research | Education |