Experiment
Business Profile
Core Value Proposition
Experiment provides a crowdfunding platform for scientific research that connects scientists with public backers to fund and share open, hypothesis-driven research.
Target Customer
Researchers and scientists seeking funding for experiments (from high school students to university professors) and individual backers/donors interested in funding science research.
Key Differentiator
World's largest open platform for funding science research with an open lab notebook, an all-or-nothing funding model, 100% ownership retained by researchers, payouts to institutions, and explicit emphasis on public engagement and transparency.
Implementation Timeline
{"implementation":["Most campaigns run for 30-60 days.","Setting up a project typically takes 1 week."],"valueDelivery":["Funding is provided if targets are met; otherwise backers are not charged."]}
Pain Points
- 1Researchers need alternative funding sources beyond traditional grants to pursue hypothesis-driven or exploratory science.
- 2Scientists seek public engagement and broader outreach to fund and share results beyond academic circles.
- 3Researchers want control over ownership of their work and a transparent, accountable funding process.
Key Features
- 1All-or-nothing crowdfunding model: funds are only charged if the funding target is met.
- 2Open lab notebook and Lab Notes: projects share findings, updates, datasets, protocols, and papers with backers.
- 3Endorsements and review: projects are reviewed for clarity, scientific accuracy, and feasibility; support from peers and Experiment staff.
- 4Payouts to institutions and 100% ownership: researchers keep ownership and control; funds are typically processed as a gift to a research organization.
- 5Community and visibility: browse, discover, and fund current projects; access case studies and lab notes; use videos to tell the story (recommended).
Target Customer Industries
Decision Makers
- 1Researcher
- 2Scientist
Client Results
- 1Track record metrics shown: $12,386,252 pledged, 1,359 funded projects, $3,498 average project size, 48.01% success rate.
- 2Projects funded through a mix of personal supporters and backers on Experiment.
Competitive Advantages
- 1Public, community-driven funding accelerates access to capital beyond traditional grants.
- 2Researchers maintain 100% ownership and control of their work.
- 3Funds are paid to the researcher’s institution; backers get transparent updates and results.
- 4Experiment handles backer questions, protects from chargebacks, and manages failed payments.
- 5Open lab notebook promotes transparency and reproducibility; case studies and lab notes showcase progress.
Key Benefits
Case Studies & Success Stories
Internet comes together to sequence the DNA of internet cat
Three scientists collaborated with internet celebrity cat Lil Bub to study how genetic mutations can help solve challenges in human health; the campaign illustrated a collaborative crowdfunding effort with a detailed case study.
365 people came together
Case study referenced as an example of how a community collaboration formed around a project; described as a featured case study in the platform’s materials.
Additional Product Information
Product Description
Experiment is a crowdfunding platform that funds scientific research and shares results via an open, community-driven model with open lab notebooks and peer review by the platform.
Target Market
Researchers, laboratories, universities, independent scientists, and the general public/backers interested in funding scientific research.
Unique Value Proposition
Experiment uniquely combines an open, community-driven funding platform with open sharing of results, retains researchers’ ownership, uses an all-or-nothing funding model, and provides payouts to institutions while engaging a broad backer base.
Technical Requirements
{"Projects can be funded by anyone with a credit card (backers).","Supported countries for researchers: United States, United Kingdom, Canada, and Australia.","Video is recommended (projects with videos are more likely to succeed).","Open access to project updates, datasets, protocols, and papers through Lab Notes."}
Pricing Model
{"Platform fee: 8%","Payment processing: 2.9% + 30¢ per transaction","Payouts to institutions; funds are typically processed as gifts to the research organization"}
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