With crowdfunding growing in popularity, it is no surprise that universities and colleges across the globe are turning to crowdfunding in order to raise money for everything from research projects to university sporting teams. Below, we will detail some of these crowdfunding efforts and also note that more and more universities and colleges are using crowdfunding as oppose to traditional fundraising efforts.
Money for Research Projects
Many of you probably know that much of our society’s top discoveries are uncovered through faculty and student research projects. Yet research projects often require finances (sometimes a whole lot!), so where do researchers turn to in order to generate funds? Traditionally, researchers would have to compete for grants, yet now more and more are turning to crowdfunding in order to raise money for their projects.
For example, the University of Maryland’s Bee Informed Partnership started a crowdfunding campaign and raised $24,000 to monitor and encourage the health of honeybees that help with much of the produce that our world eats.
University Sports Teams
As budget cuts continue to afflict universities and colleges across the globe, university level sports teams and clubs are finding themselves within little to no financial support. Rather than give up, students and coaches are turning to crowdfunding as a way to generate funds so players can continue to play the sport that they love.
In our previous post, we detailed a variety of ways that sports teams and clubs can leverage crowdfunding in order to generate the needed funds for their sport. Whether it involves league or tournament fees, new uniforms, or buying new equipment, more sports teams and players are turning to crowdfunding to gather the financial support that they need!
Outside of research projects and sports teams, universities and colleges are also using crowdfunding instead of – or coinciding with – traditional fundraising efforts. The premise behind this is that universities are better able to leverage their alumni network via social media contact, as opposed to traditional contacting methods, like newsletters or postcards. This is still in its initial stages, but universities spread out across the entire United States – in states such as Utah, Vermont and Virginia – have launched crowdfunding campaigns in the past, and more are preparing to in the future!
As always, if you are interested in starting a crowdfunding campaign, but are not sure where to start, feel free to contact us! We would love to help you raise money to help make your dreams come true, so don’t be shy!