Deakin’s crowdfunding success

Sophie counting out Chinese money in to piles of 100 Yuan bills

After the heist, by Jonathan O’Donnell on Flickr

Over the last two months, I’ve been watching Deakin University’s venture into crowdfunding research. It has been an exciting and very successful initiative.

Deakin University is based in Australia, so they worked with an Australian crowdfunding platform, Pozible, to make this happen. In May-June 2013, Deakin ran eight funding campaigns through Pozible.

Six of the eight exceeded their targets!

Pozible is an ‘all or nothing’ crowdfunding platform, so the projects that didn’t succeed won’t get anything at all. The others will get about 93% of the contributions after transaction fees are deducted.

Here is a breakdown of the numbers. The two projects marked ‘N/A’ did not reach their target, and so raised no funds at all.

Table 1: Deakin University fundraising on Pozible, June 2013.
Project title Raised Supporters $ / person
‘Caching’ in on game play N/A 42 N/A
Healthy gigglers $12,832 45 $285.16
Mighty maggots v flesh nom bugs $9,970 129 $77.29
Discovering Papua New Guinea’s mountain mammals $21,913 298 $73.53
Retake Melbourne $6,417 68 $94.37
How salty is your seafood? N/A 11 N/A
Would you like seaweed with that? $5,435 88 $61.76
Voyages of discovery $5,005 41 $122.07
Total raised $61,572

I love what Deakin has done! When I saw what they were trying to do, my initial reaction was “Why didn’t I think of that?”. I have been trying to convince individuals at my university to try crowdfunding, without any success. By taking an institutional approach, Deakin were able to get more traction.

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