Worth more than money

Power Ranger for sale (Photo by Peter Dutton: https://www.flickr.com/photos/joeshlabotnik)

Power Ranger for sale (Photo by Peter Dutton: https://www.flickr.com/photos/joeshlabotnik)

At the moment, there isn’t a lot of glory for an academic in crowdfunding.

If you want to get promoted at a university, you need to secure funding from one of the key funding bodies in your country (the National Science Foundation in the USA, for example, or one of the Research Councils if you are in the UK, Canada, or Australia).

There is this dodgy hierarchy of funding with one or two national funding schemes at the top, followed by other national funding, then by other government funding, then industry/philanthropic funding (depending on your discipline). In that hierarchy, crowdfunding sits somewhere down the bottom, as a type of philanthropic funding.

Crowdfunding is a lot of work, and it isn’t work that most researchers are familiar with. It takes most people into areas where they may not be comfortable. At its heart, crowdfunding is a funding campaign and the two key tools are Facebook and Twitter. Not everybody wants to take their professional identity into Facebook. They might prefer to keep it as a personal realm (despite the fact that work leaks in). While they might be happy to build a professional identity on Twitter, for most academics this is new territory. Unsettling new territory.

The point of a funding campaign is to ask for money. That’s what the ‘funding’ bit means.

While academics are generally good at promoting their research, they aren’t good at asking their friends and family to give them money to fund their research. Often, they don’t understand why anyone would want to fund their work. They like it, and they see the benefit in it, but they’ve spent the better part of their lives explaining to Uncle Ted ‘exactly what is it that you do, again?’.

Given that most crowdfunding campaigns start by mobilising personal networks, that means not just explaining to Uncle Ted what the work is, but asking Uncle Ted to put his hand in his pocket and donate to it, and have him then tell all his friends to do the same. A lot of people feel uncomfortable about that.

I don’t shy away from these topics when encouraging people to try crowdfunding, which may explain why I haven’t had any takers at my university yet. Perhaps I should try to emphasize the positive side of a crowdfunding campaign. There are lots of positives to emphasise.

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Crowdfunding your research

Dear researcher

Thank you very much for sending through your funding proposal. You mentioned that you are trying to obtain corporate sponsorship for this project. That is excellent, and you should continue.

You might also like to think about using a crowdfunding service. Crowdfunding allows you to raise funds from the public. It isn’t for everybody and it is a lot of work but I think that it might suit your project.

To this end, I’ve done a quick analysis of your project’s strengths, weaknesses, opportunities and threats (SWOT) that might help you to decide if you want to try to raise funds this way. I hope that you find it useful. Let me know if you want to go ahead.

Before I begin, I should make it clear that everything that follows is just my opinion. It’s early days for crowdfunding, and I don’t have any working experience with it yet. Read more of this post