Will universities allow you to raise money through crowdfunding? Posted by Jai Ranganathan on September 27, 2011 So, as of this writing, 134 scientists have signed on to the #SciFund Challenge! Incredible. And sign-up closes on October 1st, so do sign up now. With that out of the way, on to the point of this post. If you are a scientist based at a university, will your university allow you to fundraise via the #SciFund Challenge? Short answer: likely yes (but do check with your local grant administrator). Universities are just beginning to grapple with crowdfunding, so there is going to be some variation in the official response to crowdfunding. However, I can tell you about the response of the University of California, Santa Barbara (UCSB), which is a large Tier 1 research university. It also happens to be where I am based. According to a grant administrator to whom I spoke today at UCSB, money raised from crowdfunding can be considered a direct donation to a scientist’s research program. After all, in the end, RocketHub will just be sending you a check, with neither strings attached nor reporting requirements. This donation is exactly the same as if a local benefactor wrote you a strings-free check to support your research. Once you get this check, you’ll have two choices. If your crowdfunded project involves any university resources (university office, university-supplied computer, lab equipment purchased through the university, etc.), you’ll have to hand over the check to the university, via your local grant administrator. At UCSB, the money will then go to the Office of Development, who will then administer the funds back
Summary
The scenario of University of California, Santa Barbara (UCSB) which is considered as a large Tier 1 research university is that," If your project is something you can do entirely without university resources, then the university doesn’t need to be involved. Keep the check from RocketHub and spend it on your own to move your research forward".
Description
Universities are just beginning to grapple with crowdfunding, so there is going to be some variation in the official response to crowdfunding.
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Posted by Benjamin Fossel