Crowdfunding is a method of fundraising where the sole purpose is raising funds from the community. As common as it has been in our society nowadays, a recent research was eager to understand more details on crowdfunding.
The research showed that women are generally more successful in crowdfunding than men. The research conducted by ESMT Berlin showed that response to women crowdfunding on scientific projects is much more positive than the use of males. In crowdfunding, decision-making by the community is different, compared to businesses or investors taking decision.
The research was based on collecting results from 700 previous crowdfunding campaigns for scientific research. The first observation from the analysis showed that younger crowd are more viable to reaching better results than seniors. From within the same study, females have shown a better success rate than men being involved.
Henry Sauermann, the professor who led the research noted on the results saying, ” Although the majority of campaign creators on the site were male, women were overall more successful. The data shows that males enjoyed a 43% rate of reaching their funding target, compared with 57% for females. Women’s significantly higher success rates in crowdfunding contrast with their sometimes lower odds when competing with men for grants from government agencies. Through crowdfunding, access to resources is broadened for groups that have been excluded or disadvantaged in traditional funding systems”
The team are inspired to continue the study as they believe that crowdfunding can be the method towards successful funding for scientific experiments.