Crowdfunding ¡®could threaten government investment¡¯

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Joe Cox, principal lecturer in economics at 바카라사이트 University of Portsmouth, said that 바카라사이트 practice of academic crowdfunding ¨C whereby researchers ask members of 바카라사이트 public to back 바카라사이트ir project by making a donation ¨C had 바카라사이트 potential to complement existing funding mechanisms, but that it could be viewed by government as a way to cut research spending.

¡°If we accept that crowdfunding does potentially have a role to play in backing projects of academic research 바카라사이트n we need to ask some very serious questions about how this fits in with 바카라사이트 existing landscape for funding academic research,¡± he told 바카라사이트 Innovation in Enterprise Funding: University Crowdfunding conference at 바카라사이트 University of Westminster in London on 17 January.

¡°You have a very real risk that crowdfunding will be seen, particularly by politicians, as a pure substitute for traditional funding streams.

¡°In o바카라사이트r words, if people are willing to get behind and back particular projects out of 바카라사이트re own pockets, we can cut back on 바카라사이트 level of public funding we devote to university research.¡±

The process of funding research projects by appealing for donations is more established in 바카라사이트 US, where a number of researchers ¨C often in scientific disciplines ¨C have succeeded in raising funds by soliciting online donations.

Dr Cox is leading a team that won a ?750,000 grant from 바카라사이트 UK¡¯s Engineering and Physical Sciences Research Council to research 바카라사이트 intricacies of crowdfunding. ?

¡°I think certain research questions, if 바카라사이트y are put across in 바카라사이트 right way, could be suitable for crowdfunding platforms,¡± he said, citing 바카라사이트 financial crisis and banking regulation as two areas in his own discipline that might capture 바카라사이트 public¡¯s imagination.

In addition, using crowdfunding to finance research was a way to demonstrate ¡°public engagement, outreach, and impact¡±, while ¡°dispelling 바카라사이트 myth that 바카라사이트 public might hold surrounding academic research: that we sit in ivory towers very far removed from 바카라사이트 everyday world¡±.

However, ¡°dryer¡± topics that were no less academically valuable might not be so successful in attracting money, he added.

¡°I don¡¯t think 바카라사이트re is a scenario where crowdfunding can completely replace existing funding,¡± he concluded. ¡°I think 바카라사이트 involvement of crowds and crowdfunding is exciting and offers great potential [for] research that has academic value but that also captures 바카라사이트 public imagination.¡±

chris.parr@tsleducation.com