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Revision as of 16:47, 26 January 2018
The Basics for Funding
Communication is key
The first step is getting together with your team and preparing your message. You need to think of a clear, concise way in which you can explain your project and why you need help funding it. Presenting your project may be a balancing act; you will need to give the right amount of information so your audience can connect to what you are doing, but be careful to not overwhelm them. A simple and compelling idea can go very far.
A good presentation is important but also consider creating a brochure in which you state the goals of your team. Having a team identity (logo, team color, presentation layout, etc.) will help you look professional and serious about what you are doing.
Recording your story in a short promotional video is also a good idea. Let your audience see who they are helping; it will be easier to relate to project if they see who is working behind it. A short video is also useful if you plan to obtain money via an online crowd-funding platform.
Remember that your wiki is a valuable tool during this stage. You can use it as your website to tell your story to the outside world.
An example of team branding by IONIS-PARIS 2017
Be sure to answer these questions:
- Who are you?
- What is your team’s project?
- Why did you choose to work on this project?
- What will you use the money for?
- Why is the iGEM Competition important to you?
Example materials
Brochures
Videos
Budgeting
There are several things you need to consider for making your budget, some expenses vary from region and country. You can consult other iGEM teams from your area to get an idea of their budget.
Team Registration Fee
In order to participate in iGEM 2018, a team registration fee needs to be submitted. This amount must be submitted before the registration deadline. You can read the full details on the team registration page.
Summer Stipends
Some iGEM teams help students who are working on the project to support themselves during the summer. This aid can take form of funds to pay the student’s expenses, social service hours or professional service hours in some countries. Talk to the department heads to get the help you need to work full time on your project.
Regional Meetups
iGEM encourages teams to get together and share their work. Regional team meet ups can be held during the summer, students can present what they are currently developing, get feedback and meet the rest of the participants. Traveling expenses should be included in your budget if you expect to attend these meetings, you can also try to contact the organizing team to find accommodation and traveling deals.
Note- If you are planning to organize an event of this type, please contact iGEM HQ so we can help you advertise this event to the iGEM Community.
For a complete list of iGEM 2018 meetups click here.
Laboratory Budget
Talk to your instructors and advisors regarding what lab materials are available at the institution. It is advisable to create a specific lab budget where your state your team’s needs for developing the project. Some of these materials might already be in your school and can be provided for your team.
Also consider reaching out to local biotech companies, they can provide you with lab material like lab gloves, pipettes and other useful supplies.
Team identity
Teams are encouraged to create their own personal branding material. Logos and mascots can be used to present your project to the rest of the world.
Be as creative as you want! Some local companies can help by sponsoring the creation of these items so be sure to look for their support.
Teams have designed
- Logos
- T-shirts
- Hoodies
- Vests
- Posters
- Mascots
- Cups
- Comic Books
- Pins
Teams create a cohesive team identity through branded clothing, and giveaways like pins.
Attending the Giant Jamboree
Be sure to have a budget ready when you present your project to possible funding sources. This will help you explain why you need money and will give your team a serious and professional image.
Jamboree Attendance Fee
This amount will depend on the number of people going to the Jamboree; the price is paid individually and is the same for all team members regardless of role (PI, instructor, student, etc.). You can read the full details on the Registration page.
Plane Tickets
This will vary depending from where you are traveling. Review several sources ahead of time in order to find the best prices available. Also consider traveling agencies, they can help you look for flights and discounts if you plan to fly with a group. You can contact other iGEM teams from your city and get together to lower prices.
Accommodation
The Giant Jamboree will take place in Boston, Massachusetts. We are working on hotel discount prices; however do consider the amount of people who can stay in one room and look for several accommodation options. Full information will be available on the future on the Jamboree Accommodations page.
Fundraising
Crowdfunding
There are several options to support your project. Crowd-funding pages and regional sponsors can help you obtain a considerable amount of money. Here is a list of resources that are currently available.
Crowd-funding examples
- Indiegogo (Global)
- Crowd.Science (Global)
- Experiment.com (US)
- Idea.me (Latin America)
- Ulule.com (Europe)
In-Kind Sponsorship
Sometimes companies who are unable to provide financial support are more willing to provide in-kind sponsorship. This can come in the form of free access to their goods and services. Consider reaching out to local biotech companies, they can provide you with lab material like lab gloves, pipettes and other useful supplies. This type of sponsorship can reduce laboratory-associated costs, and allow you to divert those funds to other aspects of your project.
Alumni Associations
Some educational institutions have alumni associations that can assist in providing funding for your project. Consider talking to your school's alumni association about this.
Corporate Sponsorship
Companies may be interested in providing financial support to a team if the project aligns with their interests. Teams may offer brand exposure based on the level of financial support on places such as their wikis, T-shirts, or presentations. Put your team's branding and communication materials to work to tell a compelling story that will align with the company's interests.
iGEM Partner Special Offers
The iGEM Foundation is supported by various sponsors. We work every year on getting special offers for our iGEM teams. Check our iGEM 2018 Partners Page page for the latest funding opportunities, special offers and discounts.