How Crowdfunding is Changing the Scientific Research Landscape.
Crowdfunding has emerged as a popular way to finance all sorts of projects in recent years, from small businesses to independent films. Now, crowdfunding is beginning to have an impact on the world of scientific research. In this blog post, we’ll take a look at how crowdfunding is changing the scientific research landscape and what that means for investors.
There are a number of reasons why scientists are turning to crowdfunding to finance their research. First and foremost, government funding for scientific research has been declining in recent years. In fact, according to the American Association for the Advancement of Science, federal funding for research and development has declined by 9% since 2011. At the same time, the costs of conducting scientific research have been increasing. This perfect storm has created a situation where many scientists are struggling to find the money they need to finance their work.
Crowdfunding provides an alternative source of funding for these scientists. With crowdfunding, anyone can invest money to support a particular project. For example, on the popular crowdfunding site Kickstarter, there are currently dozens of scientific research projects seeking funding. These projects range from studies on Alzheimer’s disease and cancer to efforts to develop new technology for space exploration.
This new model of funding has several advantages over the traditional grant system. First, it allows scientists to bypass the bureaucratic red tape that can often delay or even prevent research projects from getting off the ground. Second, it gives investors a direct say in which projects they want to support. And third, it provides a much-needed financial boost to cash-strapped researchers who might otherwise be forced to abandon their work.
Crowdfunding also democratizes the process of getting scientific research funded. In the past, only wealthy individuals or institutions could support scientific research. Now, anyone can make a contribution, no matter how small or large. This could open up new opportunities for innovative ideas that might not have otherwise had a chance to get off the ground.
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