More funding, more scientific progress!
We offer an alternative way for researchers to explore their ideas without the burden of traditional funding methods and institutional fees.
Our protocol
1. Submit your study
Complete our easy application. Keep in mind your project could be a previously NIH-scored proposal or a new scientific venture you are exploring!
2. Get approved
Once your project is submitted it will go through our vetting process to ensure it meets our platform’s requirements. In this stage, you will be assigned a team member who will help you fine tune details.
3. Share & Fundraise
Once approved, we will build your campaign, and your project will be ready for crowdfunding under its corresponding “Fund”. This is when you can start spreading the word and raise money to meet/exceed your goal!
4. Get paid!
With our “keep-it-all” crowdfunding model, you don’t have to hit your campaign goal to receive your funds. However, if you hit or exceed your goal, you will be eligible to receive even more funding from our Funds. Learn about our dual funding process.
Dual funding
In addition to individual crowdfunding campaigns, our platform uses overarching categories, AKA “Funds”, where additional funding is raised (by us) for participating campaigners. This dual funding method offers the following benefits:
Additional payout: Researchers will have the opportunity to receive additional payout from our Funds, once they meet their crowdfunding goal along with other criteria specific to the Fund they are participating under.
Easy to back: The general public can easily and directly get involved and support scientific research without the need for a technical understanding of each specific study. (i.e instead of picking a project in female specific cancer research, anyone can contribute to our “Women’s Health Fund” which we will then distribute to pre-vetted studies in this field based on scientific merit and available funding.)
Transparency: By raising funds on WeSci researchers know exactly where their funds came from and won’t lose any hefty fees to their institutions (upward of 60% in many cases).
Most importantly, and unlike when donating to a foundation, the supporters of science know exactly what project they have funded, which researchers are behind it and how their money has impacted scientific progress.
Approval criteria
Your project must …
◦ Represent a progressive step in our better understanding of a field of research.
◦ Be performed by scientists, students and/or technicians who are well-versed in laboratory techniques.
◦ Be submitted in both scientific/technical terminology and layman wording for the non-scientific community.
Your study can …
◦ Be a venture or a science related startup.
◦ Have an existing NIH score from a previous grant submission.
◦ Be a new exploration within an already funded study by any governmental or private entity.
Transparency & Accountability
Direct payout
We want to directly connect researchers to their supporters so that the funds are received without losing a percentage to institutional overhead fees. The funds raised through our platform will be directly sent to your organization, laboratory or department as a donation or gift, which allows for the bypass of the overhead fees. Bare in mind this could vary from one institution to another, so we encourage you to discuss options with the appropriate person or department.
Platform fee
Our one-time 15% platform fee goes toward the running of our platform: operations, team compensation, and marketing costs to optimize your campaigns and bring more supporters for your research. This fee also includes the third party transaction fees (5%-7%) which are for the third party applications we use to securely receive money from your supporters. Some of these applications include: Donorbox, Stripe, Google/Apple pay, and PayPal. Please note: additional fees might apply for international transfers.
Financial audit
To keep with our commitment to transparency and accountability, we will perform random audits of funded labs. Therefore, we ask that all of our recipients keep receipts and a summary of all transactions related to their funded project.
Ready to crowdfund for your project?