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 U of G pilot 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! 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? No Is the research Yes proprietary? Yes No Is the gift unreasonably Yes prescriptive? No Are deliverables Yes requested? Office of No AA&D Research process (no process (with indirect indirect costs) costs) Questions? Lisa Hood Associate Director, Annual Fund Ext 52904 or [email protected] Dan Gillis Assistant Professor, SOCS Ext 52951 or [email protected] .

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