1. Health Services Innovation Hub Bridging the innovation gap, improving care today Alexa I. Ruppertsberg

2. Health Services Innovation Hub Bridging the innovation gap, improving care today What is crowdfunding?  the collective effort of individuals who network and pool their money, usually via the Internet, to support efforts initiated by other people or organizations.  2008: financial crisis -> alternative finance  2012: 670 CFPs raised US$ 2.7 bn  High-growth early stage industry: £15bn in 2015 in UK? (↔ £115bn FS industry)  VOLCROWE - a £750k EPSRC project

3. Health Services Innovation Hub Bridging the innovation gap, improving care today Forms of crowdfunding  Equity- and lending- based: largest funds/project; small category; fast growing  UK: 2012 - £4M; 2013 - £28M, 700%  Donation- and reward-based: smaller funds/project; largest category

4. Health Services Innovation Hub Bridging the innovation gap, improving care today from NESTA ->World Bank report; NESTA: Banking on each other, Peer-2-Peer lending, Venture crowd

5. Health Services Innovation Hub Bridging the innovation gap, improving care today from NESTA

6. Health Services Innovation Hub Bridging the innovation gap, improving care today from crowdsourcing.org

7. Health Services Innovation Hub Bridging the innovation gap, improving care today How does it work?  Percentage based commission: around 5% + payment processing fees (3-5%) +VAT on fees  All-or-nothing; success rate: ~42%  Keep-what-you-raise  45% of CFPs: deposit in third party accounts  63% of CFPs: PayPal  Currency!

8. Health Services Innovation Hub Bridging the innovation gap, improving care today from crowdsourcing.org

9. Health Services Innovation Hub Bridging the innovation gap, improving care today What’s in it for us? Is it easy money for:  Student projects  Research projects  Alumni fundraising  Start-ups  PG studentships (Studentfunder) ?  Is it a way of engagement?

10. Health Services Innovation Hub Bridging the innovation gap, improving care today  Campaign: 4Ps: people, passion, participation, perks  Social dimension: networks & media  Who checks?  How to exit? (equity) ->NESTA: Working the Crowd

11. Health Services Innovation Hub Bridging the innovation gap, improving care today The others  University of York: Yustart http://www.yorkspace.net/yustart http://www.yorkspace.net/yustart  University of Southampton https://southampton.hubbub.net/ https://southampton.hubbub.net/  University of Edinburgh, ERI http://www.cgplconsulting.co.uk/resources/Invited%20Talk%20-%20Ian%20Murphy%20- %20ERI%20Presentation%20on%20Crowdfunding%20and%20Carbomap%20January%2 02014.pdf http://www.cgplconsulting.co.uk/resources/Invited%20Talk%20-%20Ian%20Murphy%20- %20ERI%20Presentation%20on%20Crowdfunding%20and%20Carbomap%20January%2 02014.pdf

12. Health Services Innovation Hub Bridging the innovation gap, improving care today Why and why not?  Profile  Marketing  Engagement  Feedback  Reputation  IP protection  Donor exhaustion  Public fear of abuse  Investor, all high-net worth ?

13. Health Services Innovation Hub Bridging the innovation gap, improving care today Links  Crowdfunding Industry Report (May 2012) http://www.crowdfunding.nl/wp- content/uploads/2012/05/92834651-Massolution-abridged-Crowd-Funding-Industry-Report1.pdfhttp://www.crowdfunding.nl/wp- content/uploads/2012/05/92834651-Massolution-abridged-Crowd-Funding-Industry-Report1.pdf  Crowdfunding’s potential for the developing world (2013), by the World Bank http://www.infodev.org/infodev-files/wb_crowdfundingreport-v12.pdf http://www.infodev.org/infodev-files/wb_crowdfundingreport-v12.pdf NESTA:  Crowding in (December 2012 ) http://www.nesta.org.uk/sites/default/files/crowding_in_report.pdfhttp://www.nesta.org.uk/sites/default/files/crowding_in_report.pdf  The Venture Crowd (July 2012) http://www.nesta.org.uk/sites/default/files/the_venture_crowd.pdfhttp://www.nesta.org.uk/sites/default/files/the_venture_crowd.pdf  Working the Crowd (May 2013) http://www.nesta.org.uk/sites/default/files/working_the_crowd.pdfhttp://www.nesta.org.uk/sites/default/files/working_the_crowd.pdf  The rise of future finance (December 2013) http://www.nesta.org.uk/sites/default/files/the_rise_of_future_finance.pdf http://www.nesta.org.uk/sites/default/files/the_rise_of_future_finance.pdf  Banking on each other: peer-to-peer lending to business (April 2013) http://www.nesta.org.uk/sites/default/files/banking_on_each_other.pdf http://www.nesta.org.uk/sites/default/files/banking_on_each_other.pdf The Conversation (https://theconversation.com/ukThe Conversation (https://theconversation.com/uk):  crunch-time-for-crowdfunders-as-regulation-looms: crunch-time-for-crowdfunders-as-regulation-looms  crowdfunding-is-a-boost-for-science-but-it-cannot-replace-core-state-investment crowdfunding-is-a-boost-for-science-but-it-cannot-replace-core-state-investment  http://www.auril.org.uk/NewsandEvents/tabid/1251/articleType/ArticleView/articleId/2958/New- Ways-of-Innovating-Old-Ways-of-Working.aspx http://www.auril.org.uk/NewsandEvents/tabid/1251/articleType/ArticleView/articleId/2958/New- Ways-of-Innovating-Old-Ways-of-Working.aspx