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

http://www.laboratoryequipment.com/news/2014/01/crowdfunding-boost-not-replacement-government-aid-science

Tags: , , , , ,

HEADLINE NEWS

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news [...]

NPRAfter Outcry, Crowdfunding Site Patreon Backs Off Plan To Raise ...NPRThe popular crowdfunding service Patreon has backed off plans to change its payment structure, after widespread, vocal and passionate opposition from creators and their fans. Last week, the site announced it woul [...]

ForbesCrowdfunding Do's And Dont's From iFundWomen's Karen CahnForbesDuring our conversation, she was transparent in sharing that her first software company, VProud, failed because she “did everything backwards” and spent too much time trying to perfect the product. “Pe [...]

TechCrunchHow hate speech crowdfunding outfit Hatreon crept back online ...TechCrunchIf you want to make a living creating white supremacist content, you're probably not going to do it via sites like Kickstarter and Patreon, which prohibit hate speech. Fortunately there's Ha [...]

EntrepreneurWhy Some Small Business Owners Are Turning to Crowdfunding to Save Their CompanyEntrepreneurMany owners of beloved local businesses, especially in pricier cities, have been forced to swallow their pride and appeal to their customers in times of crisis -- a process streamli [...]

Times of IndiaPT Usha takes to crowdfunding to run schoolTimes of IndiaCHENNAI: Legendary athlete PT Usha, called 'Payyoli Express' by her fans, has taken to crowdfunding and raised Rs 20 lakh to train budding girl sprinters and runners at her school in the hope of turning t [...]

Crowdfund InsiderNew Investment Crowdfunding Platform Launches in North Carolina as Full Stack Platform Including Intrastate NC ...Crowdfund InsiderUnder NC PACES, or “North Carolina Providing Access to Capital for Entrepreneurs and Small business Act,” crowdfunding legislation, issue [...]

ChronicleLiveNo need for banks as North East businesses turn to crowdfundingChronicleLiveCrowdfunding has developed a reputation for helping weird and wonderful projects become a reality. But while creative projects have utilised crowdfunding for some time, more and more North East bu [...]

Crowdfunding For French CastlesNPRYou too can own a French chateau, in part, anyway. Romain Delaume, CEO of Dartagnans, tells NPR's Scott Simon about a crowdfunding effort underway to preserve La Mothe-Chandeniers. SCOTT SIMON, HOST: What if I told you that for about $60, you cou [...]

TechCrunchFormer Gawker employees are crowdfunding an effort to buy Gawker.comTechCrunchWhile Univision acquired most of Gawker Media's sites last year (and renamed them as the Gizmodo Media Group), the deal didn't include Gawker itself. In fact, BuzzFeed reported last month [...]

CFB Finance

Marketwired

  • Crowdfunding
  • Crowdfund
  • Peer to Peer Lending
  • FinTech
  • Reg A+
  • Reg CF
  • Crowdfunding USA

Press Release

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 |