Excellent Idea of the Day: Money for Science

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A new crowdfunding site was created to help inventors and entrepreneurs in the science industry get monetary support for projects.

It feels like 2012 has been the year for crowdsourced funding. From Kickstarter to Indiegogo, everybody is looking for some support to have their dreams come true. Next year doesn't seem to be any different; even science and technology projects are getting in on the funding fun with Scitech Starter.

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This crowdfunding site was created to help inventors and entrepreneurs in the science industry get monetary support for projects in over 30 categories. Traditional methods for seeking funding usually involve applying for grants and filling out lots of paperwork about their project and why they deserve funding. All Scitech needs is a short pitch, a few images (if applicable) and an optional Facebook, Twitter or LinkedIn sync up.

Those looking for funding can set up requests for fixed amounts, unspecified amounts, etc., and will only receive the money if their goal amount is reached. If the goal isn't met, those who pledged won't be charged, just like Kickstarter. The site doesn't keep pledgers quiet, though. They can comment on the project if they like and even provide feedback and ideas for the creators.

Once funded, scientists must provide gifts to their funders like signed copies of prototypes or models or a meet and greet.