Experiment
Experiment is a crowdfunding platform based in Honolulu, HI, specializing in scientific research funding. It has facilitated over $9 million in pledges for 900 projects, with a 46% success rate.
Company Overview
Experiment is an online platform for discovering, funding, and sharing scientific research. Founded in 2012 in a university library, it aims to democratize science by making it more accessible to the public. With a presence in Honolulu, HI, USA, and operating remotely, Experiment supports hypothesis-driven and exploratory scientific research projects. Over 47,000 citizens have pledged $9 million to support 900 scientific projects on the platform.
Funding Model
Experiment utilizes an all-or-nothing funding model. If a project does not meet its funding target, backers are not charged. The platform charges an 8% fee plus payment processing fees for fully funded projects. Projects on the platform need to have a clear goal, target audience, and a compelling story to tell. This model helps ensure that only viable and carefully considered projects receive funding.
Success and Impact
Experiment has a funding success rate of approximately 46%. Scientists from renowned institutions such as Stanford, Harvard, and Yale have used the platform to fund their research. Notably, Experiment has been recognized by Bill Gates for its role in supporting potentially promising, yet unfunded projects. The platform has helped fund 900 projects, with over $9 million pledged by more than 47,000 backers.
Investors and Supporters
Experiment is backed by notable investors and venture firms, including Y Combinator, Andreessen Horowitz, Index Ventures, and West Studios. These investors help ensure Experiment has the resources and guidance needed to continue its mission of democratizing scientific research. The company was part of the Y Combinator W13 batch, enhancing its credibility and network within the startup ecosystem.
Mission and Vision
Experiment's mission is to democratize science by making it more accessible to the public. By providing a crowdfunding platform, Experiment allows researchers to raise seed grants for new scientific ideas and empowers citizens to directly support scientific projects. The platform emphasizes the importance of clarity, scientific accuracy, and feasibility in all projects, ensuring a high standard of research quality.