1.¬† What is crowdsourcing?
Crowdsourcing is a way to raise funds to get an idea off the ground.¬† However, instead of finding wealthy investors who require risk reduction plans, market analysis and revenue forecasts,¬† a crowdsource funding drive enlists backers at modest financial commitments between $5 – $500.¬† The fundraising drive is usually very focused in scope.¬† For example, the goal of the drive might be a limited fabrication run for your product idea, or to stage an art installation or event, or publish your app.
2.¬† How does the SparkPlug fit into crowdsourcing?
The vision for the SparkPlug is to seed great ideas from Penn State students with the resouces to mount a successful campaign on one of the many crowdsource platforms, ten of which are listed in #5 below.
3.¬† How much money can I raise?
4.¬† How long does the fundraising drive last on sites like Kickstarter?
The funding drive lasts a short time, usually between a month and two.¬† If you meet or exceed your target after the close of the campaign, your team will receive your backers’ money right away.
5.¬† Is the SparkPlug@PSU a crowdsourcing platform?
No, SparkPlug@PSU is chartered to give students a grant to enable them to mount a serious crowdsourcing effort using one of the established crowdsourcing platforms.
6.¬† Where can I learn more about crowdsourcing?
Here’s a link to descriptions of 10 crowdsourcing platforms.¬† Each one of these has a FAQ and some ideas of how to be successful on their platform.
7.¬† Who is eligible for SparkPlug@PSU funding?
Any group that has at least two PSU students as principal members is eligible.¬† Groups are evaluated on the creativity and novelty of their idea, potential for funding success and the impact that the idea could have on our world.
8.¬† Where do I apply for SparkPlug@PSU funding?
Fill out the application right here!
9.¬† Who is in charge of SparkPlug@PSU and where does the money come from?
The money that SparkPlug@PSU will award to student groups comes from a grant by the PSU Center for Research in Design and Innovation (CRDi).¬† The SparkPlug@PSU was conceived and is managed by an interdisciplinary group comprised of Sam Hunter, James Kalsbeek, Liz Kisenwether, Diane Parente and Matt Poese.
10.¬† How can I get a hold of someone at SparkPlug?
For more questions, please drop us a line at email@example.com.