Scientists Turn To Crowdfunding

Because the National Institutes of Health grant rate is at about 22% and other grants are dying up, scientists are turning more and more to crowdfunding.

While some have called it “panda science,” the number of scientific projects on crowdfunding sites has soared.

But it’s requiring that typically meek professionals turn on the glam in order to attract the necessary funds to keep their research alive. A fan base is now a necessity whereas a few years ago, most scientists toiled in obscurity until the awarding of the rare Nobel or other prize.

But, the scientific community is waking up to the power of crowdfunding. Kickstarter stats show that 64% of scientific projects have been successful.

However, the Washington Post suggests that there may be some dangers lurking, including the funding of projects that skirt regulatory issues (messing with DNA, drones, etc.), don’t have proper oversight or safety controls.

About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at:
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