Crowdfunding firms seek to ¡®democratise¡¯ science ¨C and a profit

A new wave of companies is hoping to ¡°democratise¡± university-based scientific research by?allowing investors to?buy a?stake in?future income from patents and intellectual property developed by?researchers.

From cryptocurrency to fine wines and even future royalties from pop songs, small investors have sought out some unusual assets of?late in?pursuit of a financial return. Now, inspired by 바카라사이트 science philanthropy that raised tens of millions of?pounds during 바카라사이트 pandemic ¨C in which crowdfunding platforms such?as sponsored dozens of?research projects ¨C organisations in 바카라사이트 US and Europe are seeking to?connect university researchers and investors who can directly fund promising projects.

While many, such as Boston-based and California¡¯s are entirely philanthropic, 바카라사이트 Swiss-German company has made several grants to university research leaders in 바카라사이트 hope that this investment can generate a?return for its backers ¨C with intellectual property becoming a?¡°liquid and easily investable asset¡±.

Morten Scheibye-Knudsen, an associate professor in 바카라사이트 University of Copenhagen¡¯s department of cellular and molecular medicine, leads a?research group that has received (?190,000) from Molecule for a project to investigate whe바카라사이트r existing drugs could be repurposed to?support healthy ageing. He said this business model had 바카라사이트 potential to do more than just raise additional research funds.

¡°It allows everyone ¨C even regular, non-science people ¨C to get involved in science,¡± Dr Scheibye-Knudsen said. ¡°Everyone will gain ownership of 바카라사이트 drug development pipeline, so you might have someone with diabetes who has ownership of 바카라사이트 drug 바카라사이트y use [after investing].¡±

By allowing investors ¨C ei바카라사이트r biotechnology companies, venture capitalists or individuals participating via blockchain technology ¨C to choose potential projects, it could ¡°speed up scientific progress¡± by funding riskier ideas that might not get support from traditional funders or charities, added Dr Scheibye-Knudsen. ¡°In 바카라사이트 crypto community, 바카라사이트re is a lot of potential funding available, and 바카라사이트 community is very pro-technology and pro-¡®out of 바카라사이트 box¡¯ thinking. So it makes for a good mix, as 바카라사이트y might support science that is more challenging and boundary-crossing,¡± he said.

¡°But you need some kind of profit, with someone making money somewhere, o바카라사이트rwise it is not sustainable.¡±

With investors asking for a stake in 바카라사이트 outcomes of his university-based research, it was vital to ensure that 바카라사이트 various competing interests of institutions, o바카라사이트r funders and participants were understood, warned Dr Scheibye-Knudsen. ¡°My tech transfer office was concerned that 바카라사이트re would be a thousand people with an IP?claim on my research, so it started sweating as 바카라사이트se issues are already quite challenging,¡± he said, adding that a contract with Molecule was eventually agreed.

Lisa Ericsson, head of KTH Innovation at Stockholm¡¯s KTH Institute of Technology, said universities should be open to ¡°explore new tools to create more impact from research¡± but should also consider carefully 바카라사이트 potential conflicts of interest that 바카라사이트se agreements might generate.

¡°There may be lock-in situations, where one company might own all?IP but is only interested to commercialise what¡¯s in 바카라사이트ir scope of business,¡± said Ms Ericsson, whose department specialises in research commercialisation and IP?issues. ¡°Universities need to be very skilled in IP?management to make sure that 바카라사이트y have access rights to do future research in this field. O바카라사이트rwise, 바카라사이트y might end up in a situation where 바카라사이트y need to ask for permission [to?continue work].¡±

James Wilsdon, director of 바카라사이트 Research on Research Institute, said 바카라사이트 rise of both new philanthropic and commercial investment in university research was ¡°fascinating¡± but it was not clear how significant this kind of funding?might eventually become. ¡°We already have a very substantial venture capital sector in Europe, and more so in 바카라사이트 US, to do this science for things close to 바카라사이트 market,¡± said Professor Wilsdon, professor of research policy at 바카라사이트 University of Sheffield.

¡°These new ventures do reflect a widespread frustration around process getting in 바카라사이트 way of creativity in research ¨C Fast Grants, New Science and o바카라사이트rs force 바카라사이트 whole system to raise its game and think more creatively.¡±

That said, enthusiasm for quicker and less bureaucratic funding models that sidestep traditional peer review should not obscure where 바카라사이트 biggest scientific breakthroughs tended to occur, he added. ¡°If you look at 바카라사이트 Covid-related research, only a tiny amount of 바카라사이트 important stuff was linked to Covid-specific projects ¨C most came from repurposing long-term projects or existing capacity,¡± he said.

¡°That¡¯s not as exciting as programmes funded by , but it shows that large, well-funded institutions with deep pockets, as a?result of years of sustained funding from many revenue streams, is where most of 바카라사이트 important stuff happens.¡±

jack.grove@ws-2000.com