Experiment is a niche personal crowdfunding site, focusing on the scientific community and created by scientists for scientists. You can raise funds for causes as diverse as biology, physics, political science or computer science. If it is a science, you can create a project on the platform. Experiment has an all-or-nothing funding model, so you must reach or exceed your goal, and certain fees apply.
As a researcher in need of funds, you may create a posting on the Experiment platform, requesting funds from interested investors. Your project must meet certain criteria to be eligible for posting on this site, including seeking to answer a specific research question. You must have an expertise in the subject for which you are raising funds. The strength of your project and question it seeks to answer have a large impact on the amount of funding you will receive and the type of investors you attract.
One of the most important facets of Experiment is that the research you conduct and the results you achieve using funding from this site will be shared openly and with transparency: this crowdfunding website is intended to increase the knowledge within the scientific community. However, you do maintain complete ownership of the project and results, keeping your intellectual property.
In addition to those conditions, there are further specifications for academic scientist, corporate scientists and independent scientists. Depending on which type of scientist and researcher you are, your expectations along the way will vary slightly. No matter the case, you provide updates along the way to show donors the progress you are making.
The process to create a project online is completely free. Because this is an all-or-nothing funding model, as mentioned above, you must reach at least 100% of the goal amount. If your project does not meet its goal, the project campaign ends without funding. If your project reaches its goal, Experiment processes your funds along with assessing a 5% fee and a 3% processing fee, for a total of 8% of the funds you raise.
For researchers and scientists with a question to answer, Experiment is one of the best crowdfunding sites. The crowdfunding platform is created by scientists for scientists. As long as you meet specific criteria and raise 100% of your goal, you can receive funding for research in any scientific field. You repay contribution with updates of your project and by adding knowledge and answers to the scientific community.