Crowdfunding Comes to Academic Research

Financial innovators have gone to work on the gap funding problem that many university researchers face: how to get their promising projects past the discovery stage to a point where they might have a chance for commercial availability.   Enter crowdfunding which is being advanced as a means to finance projects by university researchers on near term efforts to develop products having commercial potential.

Innovocracy, a University of Rochester spinout, is offering this new twist on crowdfunding – academic researchers now have a website where they can post profiles on research projects that might just make the world a better place.  University of Rochester, Cornell University, Clarkson University and Rochester Institute of Technology are participating with Innovocracy.  Researchers can pitch their small scale research projects in much the same way many artists, musicians and other creative types have been successfully pitching their projects on Kickstarter and related sites.  Projects are typically $15,000 or less.  For more information go to the University of Rochester Newsroom at:

http://www.rochester.edu/news/show.php?id=4682

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