Science research has definite benefits for all of humanity, but in a society that is based on information, knowledge doesn’t come on the cheap. Government incentives, such as grants, have been the foundation of science research in the past. Times are changing, however, and crowdfunding has this community very excited. Could crowdfunding come be the salvation of science research so that we all can benefit from future breakthroughs?
How Could Value Be Found in Crowdfunding Science Research?
To put this science research market into perspective, the global amount of funding it received in 2012 was $1.5 trillion. With about 1.9 million articles that were peer reviewed and published that year, the average cost per project was just under $800,000. Of course not all research is ever made public and certain projects are extremely expensive, but at that price point, it’s hard to find value for the money in this market.
Science research has seen a slow start in the crowdfunding world. Most projects that have received funding have had budgets under $10,000. That’s not the kind of cash that is going to change the world. That’s the kind of cash that can help to develop new clothing, more comfortable shoes, or a new vacuum cleaner. All beneficial, of course, but not game changers.
What Will It Take for Crowdfunding To Change Everything?
Just as the government has been providing grants in the past for science research, there needs to be some sort of financial incentive to help backers receive some sort of gain for their crowdfunding investment. Whether it’s a new bond, an equity return, or something completely new to the financial world, something has got to happen for backers to get interested in more than just a novelty fashion.
The world has become a very competitive place. Science is more important now than ever before to keep a society at any level competitive. Crowdfunding can help lead science research down paths of public interest and create changes that the world needs, but it won’t be the savior everyone expects until a legitimate return can be given to backers.
Strong proponent of individual liberty and free speech. My goal is to present information that expands our awareness of crucial issues and exposes the manufactured illusion of freedom that we are sold in America. Question everything because nothing is what it seems.
