Crowdfunding has helped fund startups and innovation since its inception, but academic research is starting to benefit. The funding of anything from Project Hexpod that funds the building of Stompy, an 18-foot rideable walking robot, to saving abandoned or abused animals across the globe or getting creative projects started takes place via crowdfunding platforms, such as Kickstarter, Indiegogo and others.
The rise of crowdfunding for academic research
Traditional funding for academic research is often hard to obtain, limited in scope and time consuming to pursue. As an alternative, crowdfunding creates a platform where there are essentially no limits on potential funding. While time is still involved in explaining research ideas, goals and methodologies funding research through crowd donations is growing in popularity.
Microryza, a research-based crowdfunding site, launched at the start of 2012, and it follows other platforms suitable for academic research, such as iAMscientist and PetriDish.org. While risk is inherent in funding academic research, this type of research fuels technological advancements, breakthroughs in medicine and so much more.