Crowd Funding Academic Research USyd Vet Feb 2105
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Presentation delivered to the University of Sydney Vet Faculty Feb 2015 on my experiences using crowd funding to fund small research projects.
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Crowd Funding Academic Research USyd Vet Feb 2105
- 1. CRICOS Provider Code: 00113B CROWD FUNDING RESEARCH: MAGGOTS HIP ‘N’ SHOULDERED. Dr Melanie Thomson – Deakin Medical School m.thomson@deakin.edu.au @Dr_Mel_Thomson (Twitter) www.facebook.com/drmel.thomson Blog: www.drmelthomson.wordpress.com
- 2. CRICOS Provider Code: 00113B Research Crowd Funding comes to Deakin Prof Deb Verhoeven Chair in Media and Communication Faculty of Arts & Education School of Communication & Creative Arts deb.verhoeven@deakin.edu.au @bestqualitycrab on Twitter
- 3. CRICOS Provider Code: 00113B Evolution of a Crowd Funding Academic: ‘Mighty Maggots’ Campaign April 2013
- 4. CRICOS Provider Code: 00113B Research Crowd Funding in Oz: The beginning • Deakin-Pozible.com partnership • Pozible founder Rick Chen, me & Dr Michelle Harvey
- 5. CRICOS Provider Code: 00113B Maggots…can we make them glamorous?
- 6. CRICOS Provider Code: 00113B Pozible-ly, an exercise in marketing Second Maggot Video: Maggot Art https://www.youtube.com/watch?v=H1WJZiflxi8
- 7. CRICOS Provider Code: 00113B Getting $10K for Maggots? It’s ! • 45 days to convince people to give us $$ • No existing ‘audience’ • Target Market not as tech savvy • Ran ‘physical’ outreach campaign as well as online • Apps used: Twitter, Facebook, LinkedIn and Storify • Diverse Donors
- 8. CRICOS Provider Code: 00113B Pozible-ly, rewarding for donors? Rewards turned out to be an important part of the process
- 9. CRICOS Provider Code: 00113B A real life Crowd : Community Engagement Cons: Can get hostility from punters
- 10. CRICOS Provider Code: 00113B
- 11. CRICOS Provider Code: 00113B ‘Mighty Maggots’ Campaign
- 12. CRICOS Provider Code: 00113B Evolution of a Crowd Funding Track record: ‘Hips 4 Hipsters’ April 2014
- 13. CRICOS Provider Code: 00113B ‘Hips 4 Hipsters’ - Bought Pro Help Logo: Cat Donaldson, Faster Pussycat Productions @catherineLd Animation: James Hutson, Bridge8 @jameshutson Professional Animation by James Hutson of Bridge8 https://www.youtube.com/watch?v=o-OD2gB0Ewg
- 14. CRICOS Provider Code: 00113B ‘Hips 4 Hipsters’ Twitter only strategy • One week on @realscientist rotation account to amplify signal • Important relationship with science ‘supertweeter’ @upulie -> @colvinus • Interviewed by @carolduncan on ABC radio • ‘Herd Mentality’ Podcast @adamreakes • Most donors came from these interactions
- 15. CRICOS Provider Code: 00113B
- 16. CRICOS Provider Code: 00113B Crowd Funding: Not for the faint of heart! Cost • Pricey on Time!! (10-20 hrs on top of Academic job!) • $$ return per hour….approximates to less than minimum wage • Seen as ‘zany’ = non credible by science establishment??
- 17. CRICOS Provider Code: 00113B
- 18. CRICOS Provider Code: 00113B Crowd Funding: Not for the faint of heart! Cost • Pricey on Time!! (10-20 hrs on top of Academic job!) • $$ return per hour….less than minimum wage • Seen as ‘zany’ = non credible by science establishment?? Benefit • Raised profile in local and national communities • ‘Ripple Effect’ still in action…several further donations • Obtain network of random ‘cheerleaders’ for your science
- 19. CRICOS Provider Code: 00113B ‘Ripple Effect’ of community engagement • Approx $5,000 extra donations (so far!) • Plus $37,000 Grants
- 20. CRICOS Provider Code: 00113B The Process and Potential $$ Gains Deakin Process: • Internal committee to assess ‘NOIS’ applications • Training workshops • Run campaigns in batches • Social Media support HOW MUCH CAN YOU ACHIEVE? • $1,000-$1,500 – Easy, get this in first week Family & friends • $5,000 – Moderate, should be achievable in 30-45 days • $10,000 – $15,000 – Hard work, need good strategy • $20,000 - Very Hard work, need larger existing audience to tap • $50,000 -100,000+ TELL THEM ‘You’re Dreaming’!!!
- 21. CRICOS Provider Code: 00113B ACKNOWLEDGEMENTS SPONSORS: 129 + 180 individuals @pozible.com + Jane den Hollander Lee Astheimer Deb Verhoeven Michelle Harvey Joyce Seitzinger Colin Warren Stuart Palmer Rebecca Plant Ryan Raybould Warwick Hadfield Pozible Rick Chen Matt Benetti Gillian Turner Catherine Donaldson James Hutson Kim Foale Michelle Banks
- 22. CRICOS Provider Code: 00113B http://www.slideshare.net/debver/crowdfunding-university-research http://www.slideshare.net/debver/report-evauatinresearch-myworld http://www.slideshare.net/debver/checklists-crowdfunding-research http://www.pozible.com/research My Blog: www.drmelthomson.wordpress.com 1st Campaign www.pozible.com/mightymaggots 2nd Campaign www.pozible.com/hips4hipsters ‘Research my World’ Crowd Funding Links
- 23. CRICOS Provider Code: 00113B Crowd Funding Tips for University Admin • Requires support from the highest level (VC/DVCR) • Requires support of financial officers in Research Office and at local Departmental level • Consideration for admin burden of tax receipts -> Philanthropy office? • Practicalities: • WHICH PLATFORM? External or Internal? • Official You Tube account • Pay Pal account needed • Multi Media/Comms support? • ‘Coalition of the willing’ team of Social Media Mentors