19 June 2012 10 Comments
What is Kickstarter?
Kickstarter (USA), Pozible (Australia), Fondomat (Czech Republic), Sponsume (European Union), Peerbackers (worldwide) and a host of other crowdfunding solutions provide platforms where people can solicit funds for projects. There are specialised crowdfunding platforms for music, education (Funding4Learning), and even for research and invention (Rockethub). Anyone can contribute to the projects, and it often takes more than 1,000 contributors to provide $10 – $50 each before a project is fully funded.
It is a bit unfair to compare the National Science Foundation (NSF) to Kickstarter. One has an established proven model to “to promote the progress of science; to advance the national health, prosperity, and welfare; to secure the national defense”. The other provides a new, disruptive model that is yet to demonstrate its resilience. Still, that’s what I’m going to do. I want shine a light on Kickstarter, throwing it’s shadow in stark relief against the edifice of the National Science Foundation.
Kickstarter is seen as a leader in this emerging field, in part because one project, the Pebble watch, has attracted more than $10,000,000 in funding. Ten million dollars… that’s serious money! Especially considering that they were asking for a budget of $100,000 to start with. While Pebble is an outlier, there are at least five other projects that have attracted over a million dollars. In 2011, Kickstarter funded almost 12,000 projects.
At a very basic level, the two models are not that different. Both provide funding for projects based on feedback from external people. Beyond that, everything else differs: the underlying idea; the way that you pitch your idea; the assessment process; the budget and the grant that you finally get.
The idea is different
The idea behind Kickstarter is different to funding agencies such as the National Science Foundation. You can see this clearly in the way that they describe themselves:
With an annual budget of about $6.9 billion (FY 2010), we [the National Science Foundation] are the funding source for approximately 20 percent of all federally supported basic research conducted by America’s colleges and universities. In many fields such as mathematics, computer science and the social sciences, NSF is the major source of federal backing. (About the National Science Foundation)
Kickstarter is not trying to fund basic research. It is trying to fund creativity.
Kickstarter is focused on creative projects. We’re a great way for artists, filmmakers, musicians, designers, writers, illustrators, explorers, curators, performers, and others to bring their projects, events, and dreams to life. (Kickstarter Basics)