Administration of crowdfunding at Australian universities

O’Donnell, Jonathan

Business Horizons, 2022, vol. 65, issue 1, 33-42

Abstract: Crowdfunding offers a new funding model for research activities at universities. It combines fundraising with public engagement and an entrepreneurial spirit. While universities might be expected to show enthusiasm for the possibilities of crowdfunding, support has not been widespread in Australia. Only a small number of Australian universities have provided active support for crowdfunding of research activities. Interviews with academics and administrators from two Australian universities with a history of providing strong support for research crowdfunding show that clear vision and firm leadership are required to overcome organizational inertia. Universities need to provide space for academics and administrators to innovate, try new approaches, and even fail as they learn whether crowdfunding works for them. Peer support and organized training can help academics as they seek to build an audience via social media engagement. Universities can also provide analysis of campaign progress and, in some cases, funding to support campaigns. The article concludes with best-practice advice for universities that wish to encourage research crowdfunding supported by a framework that describes a continuum of support, ranging from an outright ban to benign neglect to strong support for this new activity.

Keywords: Research crowdfunding; Australia; Funding models; Research engagement; University administration (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:bushor:v:65:y:2022:i:1:p:33-42

DOI: 10.1016/j.bushor.2021.09.001

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