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Indiegogo, Kickstarter, Experiment oh my! Crowdfunding as a revenue stream

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Indiegogo, Kickstarter, Experiment – oh my!

Crowdfunding as a revenue stream

6,911 backers pledged $55,492

Crowdfunding The practice of funding a project or

venture by raising monetary contributions from a large number of people, typically via the internet.

“Large groups of people combining their economic power to support an organization, company or project they believe in.”

Compelling cause

+ Imagery / Video

+ Perks

+ Urgency

+ Champions

+ Active social media feeds

+ Robust and large network

+ Attainable goal

SUCCESS

Compelling cause

• Relevance to current issues • Emotional connection

Why should someone care?

Imagery and Video

Perks

• Insider updates

• Shout-out on social media

• Token “gift” items (<$5 per item)

• Invite to personal tour of the lab

• Thank-you call/ card from PI

Urgency

Champions

Active Social Media Feeds

Large network

Attainable goal

Risks • CRA compliance

• Receipting

• Donor stewardship/ acknowledgement

• Payment processing

• Income management

• Priority approvals

1. Colleges name an approved project

2. Each champion meets with me to plan the approach

3. AA&D and champion identify and secure lead donor

4. Champion develops content for page

5. Dec 1st – go live!

U of G pilot

Donation - no strings attached, strict gift to identified priority at U of G, receiptable by CRA standards

Sponsorship – payment to support U of G initiative in exchange for promotional recognition or other perk, not-receiptable

Grant-in-Aid:

1. Proposal initiated by PI

2. Specifics directed by PI without approval by funder

3. Line items may be changed by PI without prior notice to funder

4. No transfer of results/ IP to funder

5. No restriction on publication of results

6. Grant awarded in advance with no requirements for invoicing/ reporting

7. Ownership of equipment lies with U of G

8. No honourarium to the PI

Research Contract:

1. A defined area is outlined in the scope

2. Specific deliverables are expected

3. U of G IP policies apply, but funder may have option of royalty

4. Includes confidentiality and concern for protection of commercial interests

5. Technical progress milestones required

6. Includes budget approvals

7. Terms for acceptable/ termination are outlined

8. Limited liability of all parties

Is a charitable tax receipt requested?

AA&D process (no indirect costs)

Is the research proprietary?

Is the gift unreasonably prescriptive?

Are deliverables requested?

Office of Research process (with indirect costs)

No

No

No

No

Yes

Yes

Yes

Yes

Questions?

Lisa Hood

Associate Director, Annual Fund

Ext 52904 or [email protected]

Dan Gillis

Assistant Professor, SOCS

Ext 52951 or [email protected]