Frequently Asked Questions (FAQs)

GENERAL QUESTIONS

Which field of medicine do you cover?

All fields of medicine, as long as it is a hard to fund project.

What happens if the campaign does not succeed, i.e. the full funding is not reached?

Commonly, medical research projects are covered by more than one funding source as they require a significant amount of money. Therefore, together with the CROWDACURE medical review board, the research team will determine a mini-goal, which is the minimum reasonable money that could be used to support such a multi-source funding. It will be used to approach philanthropic and public funding sources to support the demand for additional grants.

If the campaign does not reach the mini-goal it is classified as “not successful” and all of the money is returned to the backers.

What do you mean by “mini-goal”? 

As medical research can require very significant funding, it is common that projects are funded by multiple sources. Therefore, even if a crowdfunding campaign raises only part of the money needed to run the research project, it still may be useful. The research team can use this money as a stepping stone to obtain the rest of the necessary funds. Traditional funders appreciate the opportunity to share a project with other funders and may decide to prioritise a partly funded project.

This is why at CROWDACURE we work with a GOAL and a MINI-GOAL.

Goal: the total amount of money needed for the project.

Mini-goal: the minimal amount of money that would help to prioritise the project in traditional funding pathways.

How is the mini-goal decided?

The mini-goal is agreed upon with the peer-reviewers, as is the allocated time to find additional funding(s). The following scenarios may apply:

Who gets the money I am giving?

Your money is transferred to a bank account that belongs to the institution sponsoring the research project; the sponsor can be an individual, a company, an institution or an organisation which takes responsibility for the initiation, management and/or financing of a research project. Usually it is a charitable account.

CROWDACURE does not support campaigns whose bank account is a private account.

How do I know my card and personal details are safe?

CROWDACURE place a strong emphasis on cyber-security and ensure that all transactions are safe. We use a secure payment gateway called Stripe. We do not store credit/debit/visa card details or any personal details.

Can I donate from my phone?

Yes, our website is available in a mobile version. Giving money on a mobile device is easy! Try it out.

What is the role of the medical review board?

Medical research funding is a challenging and complex process, that few people are informed of. It involves not only medical and scientific expertise, but also knowledge on research and research funding ethics and funding mechanisms. To ensure that a research project is medically valuable and scientifically sound, it shall be reviewed and assessed by experts. In full transparency, CROWDACURE will communicate to the public the outcome of the peer-review, allowing the public to make an informed decision.

Do you authorise companies to campaign projects with a commercial potential?

Yes, some projects have a commercial potential, and still they are significantly hard to fund. This is why, after discussion with people involved in rare disease and global health, we think they should be able to campaign on CROWDACURE. What matters to us is that medical progress happens.

However, we will make sure that it is clear if it is a company campaigning. Additionally, if the project is successful in raising significant monies in future rounds, the company will give back to the CROWDACURE community.

What happens if the research project raises money on CROWDACURE but does not pass the ethical review?

If the research project does not pass the ethical review all of the money is returned to the backers.

How much is the CROWDACURE fee?

CROWDCAURE takes 10% of money raised.

Our fee covers the specific services provided by CROWDACURE to increase the chances of medical research funding. Fundraising for hard to fund medical research is difficult by nature, therefore CROWDACURE’s proposition involves active support.

CROWDACURE’s fee does not include costs for processing credit cards, which is typically 3%.

What does the CROWDACURE fee cover?

Crowdacure is a social enterprise, meaning that it reinvests the majority of its profits in serving its social objective, which is to unlock medical progress with the help of the crowd.

Crowdacure will help researchers achieve the necessary funds needed to make research projects happen. In return, Crowdacure will subtract 10% of the total sum as the donated money is transferred to the campaigners. This fee is used for:

– Providing and assisting the necessary technology for the Crowdacure platform to support crowdfunding campaigns, ensuring the best level of security and banking standards are met even with high levels of traffic

– Selecting and auditing projects to make sure the crowd is offered the best level of medical research seeking funding

– Transparently informing candidate backers about the results of our auditing so they can make informed decisions

– Managing and processing the Gift Aid claims

– Offering information to the public on what it wants and needs to know in order to take action with informed decisions. There is little knowledge in the public about medical research and even less about hard to fund medical research, thus Crowdacure will fill this gap

– Nourishing support for those in under-represented fields of medicine (medical research) to be in the spotlight and be presented to the public. For every project, Crowdacure works with the campaigners to make sure that it reaches out to as many people possible and to the right people, no matter how under-represented the disease/illness is.

BACKERS

Who can back a project?

Everyone! No matter how small or large the contribution is they are all appreciated.

CAMPAIGNERS

Who can run a campaign?

As long as it is campaigning to fund a hard to fund project and the project has been peer-reviewed, the answer is anybody, it doesn’t need to be a researcher.

 

What about institutional overhead?

It is expected that the institution sponsoring the research will not charge overhead.

What about intellectual property?

CROWDACURE will in no way interfere with intellectual property processes related to the research project. Individuals and/or organisations funding the research project through CROWDACURE will also not have any intellectual property claim on the research project.

 

 

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