SciFund in 3 Rounds

So, we have now completed three rounds of #SciFund! WOOHOO! The question that will now come up is, how did we did? Is science crowdfunding on the rise? How does this round stack up, and what can we learn?

In the coming days and weeks, we’ll be crunching the data (not the least of which because our reviewers on the #SciFund paper wanted more data) and providing it back to you. But, some quick summary statistics. First off, extending Dr. Zen’s Round by Round analysis of R2, we have this summary table.

Round Days Projects Projects funded at 100% Percent funded at 100% Total raised
1 45 49 10 20.4% $76,230
2 31 75 33 44.0% $100,345
3 33 35 16 45.7% $75,978
Overall 159 59 37.1% $252,811

 

The thing that leaps out to me is that with fewer people, and less time, we raised almost as much as R1. Astounding! Our project 100% success rate (which doesn’t tell the whole story, as many projects hit 70-80% as well) has gone up a teensy bit from round 2. We’re almost at 50%!

Furthermore, we have to date raised just over one quarter of a million dollars. That, frankly, blows me away.

But those stats don’t quite tell the whole story. How are individual projects doing? Also, each round was of a different length, so if we want to get an accurate picture of how things are growing and changing, we need to correct for length of round. So, let’s take a look, shall we?

Round Project Average Daily Average Project Median Daily Median
1 1555.71 34.57 1104 24.53
2 1341.37 43.27 1046 33.74
3 2170.80 65.78 1440 43.64

Both the overall project average and median have increased by a good bit. Encouraging. When we correct for length of the round, the story gets even more interesting. The daily average and median donation to projects has nearly doubled since R1. Here’s a quick visual so that you can see more of what the data looks like:

What’s intriguing here (in addition to the upward trend) is that our outlier points for daily contribution have moved up – on a daily basis, our most successful projects are bringing in even more than they did in R1. Of course, to be fair, Kristina’s project in R1 raised that amount quickly – well within the 33 day timeline of R3. For some additional comparison, let’s look at the amount raised in two ways – first a box and whisker plot, and then a plot of the individual data points jittered a little left and right for clarity.

This last figure really blows me away. More projects are raising >$5000. More projects are lifting out of the low hundreds zone. It’s onwards and upwards, as you wonderful beautiful scientists expand your skills and horizons as fabulous communicators, and make that translate into funding for your science.

As always, I’m truly humbled by what you all create, and cannot wait to see what is next!

FYI: code for this analysis with some data can be found here.

Share

A Quarter of a Million Bucks for Science!

So, I’m crunching some of the numbers on R3, and decided to look at the cumulative performance of #SciFund to date. How much have we brought into science?

$252,811

My jaw just dropped.

Share

A number equal to all of our toes

I wasn’t expecting to have to write this post today, but another two projects have passed their targets! That’s four in one day, bringing our total to ten, which is 28.5% of our projects in this round funded.

Congratulations to:

We have momentum going into the last few days of this #SciFund challenge! There are another nine projects on RocketHub that are more than halfway funded.

You should go to RocketHub, find a project you like, contribute, and spread the word about it to your friends!

Share

Today’s round number

A little earlier today,round three of the #SciFund Challenge passed its latest milestone: $60,000 raised for science! We have four days left to push that total higher. That’s why you should go to RocketHub and support your favourite kind of science. Spread the news!

Share

Eight is great

As we head into the final stretch for this latest round of #SciFund, two more projects have crossed their threshold into funding success! Congratulations to:

That brings us to eight fully funded projects, or over 22% successful for this round! And there are four days left to go! Nine more projects are more than halfway home. If all those were funded, we would be just a hair under 50% of projects funded this round.

You should go to RocketHub now and support your favourite project!

Share

The Hundred Percent Club (Round 3)

Congratulations to:

These are just the first of our #SciFund porjects to meet their funding goals in this round. That means we have already funded 8% of our projects, with another six already past the halfway point.

Share

$100,000!

Screen grab from 11:01 pm Central Standard Time.

More later.

Exhausted.

Share

WE DID IT! 30 days, $100,000!

WOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!!!!!!!!!!!!!!!!!!!!

(sorry for the scientific notation – old version of ggplot2 on the server doing the graph-making…)
(also, a few straggle projects that got posted late are still up, so, who knows, maybe this will go further?)

Share

Expert level challenge

The name “#SciFund Challenge” has never felt more appropriate.

As of this hour, we crossed $90,000 in contributions. $90,244 to be exact.

We need only $9,756 to hit $100,000. One hundred grand. A goal that I would have laughed at at the start of this round (“You want us to raise a third more money in a third less time?!”) suddenly seems attainable.

Still, I realize that’s a big ask. It will be hard. Difficult. Extremely difficult. One might even say… challenging.

We have one day left.

Let’s light this candle.

Share

Five by five: 25 #SciFund projects completed

25 fully funded projects! With two more projects being funded today, we have a full third of the projects that started this round of #SciFund that have met their funding goals (33%). As a reminder, we funded just a little over a fifth of the proposals in round 1 (20.4%).

Congratulations to our latest researchers making their goals are:

This round of #SciFund ends tomorrow, 31 May 2012. Please be aware that not all the projects end at the exactly the same time, so if there is a project that you’ve been thinking of supporting, don’t wait til the last second and be disappointed.

Please support projects that interest you. If you would like to be one to help make a scientist’s day by hitting the target, there are several projects that are more than 75% funded, including:

A donation that pushes a project to 100% is a big deal, partly because scientists get a higher cut of the money raised when they make their targets than when they don’t.

A lot has been achieved in this last week. It’s exciting to see where we will end up at the end of the day tomorrow.

Share