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Crowdfunding and its application to university funding

Alexa I. Ruppertsberg. Crowdfunding and its application to university funding. What is crowdfunding?. the collective effort of individuals who network and pool their money, usually via the Internet, to support efforts initiated by other people or organizations .

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Crowdfunding and its application to university funding

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  1. Alexa I. Ruppertsberg Crowdfunding and its application to university funding

  2. What is crowdfunding? • the collective effort of individuals who network and pool their money, usually via the Internet, to support efforts initiated by other people or organizations. • 2008: financial crisis -> alternative finance • 2012: 670 CFPs raised US$ 2.7 bn • High-growth early stage industry: £15bn in 2015 in UK? (↔ £115bn FS industry) • VOLCROWE - a £750k EPSRC project

  3. Forms of crowdfunding • Equity- and lending- based: largest funds/project; small category; fast growing • UK: 2012 - £4M; 2013 - £28M, 700% • Donation- and reward-based: smaller funds/project; largest category

  4. from NESTA ->World Bank report; NESTA: Banking on each other, Peer-2-Peer lending, Venture crowd

  5. from NESTA

  6. from crowdsourcing.org

  7. How does it work? • Percentage based commission: around 5% + payment processing fees (3-5%) +VAT on fees • All-or-nothing; success rate: ~42% • Keep-what-you-raise • 45% of CFPs: deposit in third party accounts • 63% of CFPs: PayPal • Currency!

  8. from crowdsourcing.org

  9. What’s in it for us? Is it easy money for: • Student projects • Research projects • Alumni fundraising • Start-ups • PG studentships (Studentfunder)? • Is it a way of engagement?

  10. Does it sound too good? • Campaign: 4Ps: people, passion, participation, perks • Social dimension: networks & media • Who checks? • How to exit? (equity) ->NESTA: Working the Crowd

  11. The others • University of York: Yustarthttp://www.yorkspace.net/yustart • University of Southampton https://southampton.hubbub.net/ • University of Edinburgh, ERI http://www.cgplconsulting.co.uk/resources/Invited%20Talk%20-%20Ian%20Murphy%20-%20ERI%20Presentation%20on%20Crowdfunding%20and%20Carbomap%20January%202014.pdf

  12. Why and why not? • Reputation • IP protection • Donor exhaustion • Public fear of abuse • Investor, all high-net worth ? • Profile • Marketing • Engagement • Feedback

  13. Links • Crowdfunding Industry Report (May 2012) http://www.crowdfunding.nl/wp-content/uploads/2012/05/92834651-Massolution-abridged-Crowd-Funding-Industry-Report1.pdf • Crowdfunding’s potential for the developing world (2013), by the World Bank http://www.infodev.org/infodev-files/wb_crowdfundingreport-v12.pdf NESTA: • Crowding in (December 2012 ) http://www.nesta.org.uk/sites/default/files/crowding_in_report.pdf • The Venture Crowd (July 2012) http://www.nesta.org.uk/sites/default/files/the_venture_crowd.pdf • Working the Crowd (May 2013) http://www.nesta.org.uk/sites/default/files/working_the_crowd.pdf • The rise of future finance (December 2013) http://www.nesta.org.uk/sites/default/files/the_rise_of_future_finance.pdf • Banking on each other: peer-to-peer lending to business (April 2013) http://www.nesta.org.uk/sites/default/files/banking_on_each_other.pdf The Conversation (https://theconversation.com/uk): • crunch-time-for-crowdfunders-as-regulation-looms: • crowdfunding-is-a-boost-for-science-but-it-cannot-replace-core-state-investment • http://www.auril.org.uk/NewsandEvents/tabid/1251/articleType/ArticleView/articleId/2958/New-Ways-of-Innovating-Old-Ways-of-Working.aspx

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