The Basics for Funding
A simple and compelling idea goes very far.
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. A good presentation is important but also consider creating a brochure in which you state the goals of your team.
Project presentation 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 and be careful to not overwhelm them. 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 film is also useful if you plan to obtain money via an online crowd-funding platform.
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?
Corporate Innovation Proposals
iGEM has a number of Partner organization who are interested in innovation from 2016 iGEM teams. These organizations are supporting teams with small grants in exchange for working on ideas of interest to them.
Your team must come up with an idea that addresses one of the areas of interest of these organizations. Teams must submit an application by the deadline and will be informed later in the summer.
Funded Collaboration Opportunities
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.
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.
1. Team Registration Fee
In order to participate in iGEM 2016, 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 fee page.
For more on registering your team click here.
3. 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 2016 meetups click here.
2. 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.
4. Lab Materials
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.
5. 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
- Comic Books
6. 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.
6.1 Jamboree Attendance Fee
This amount will depend on the number of people going to the Jamboree; the price is paid individually and is different for students and advisors.
You can read the full details on the attendance fee page.
6.2 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.
This year the 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 Hotels page.
If you are looking for more tips and advice, you can continue reading these pages.
- Andrew Hessel’s page on funding, tips and advice
- How to explain complex ideas to those who don’t understand
Note - If you know of other funding opportunities for iGEM teams please send us an email at: hq at igem dot org.