Editing Funding of science (section)

=== Private funding: industrial/philanthropy/crowdfunding ===
{{see also|Private-equity fund}}

Private funding for research comes from [[philanthropist]]s,<ref name="Billionaire Ideas">{{Cite news|url=https://www.nytimes.com/2014/03/16/science/billionaires-with-big-ideas-are-privatizing-american-science.html?_r=0|author=William J. Broad|title=Billionaires With Big Ideas Are Privatizing American Science|access-date=30 November 2014|date=2014-03-15|newspaper=The New York Times|archive-date=2019-08-07|archive-url=https://web.archive.org/web/20190807085728/https://www.nytimes.com/2014/03/16/science/billionaires-with-big-ideas-are-privatizing-american-science.html?_r=0|url-status=live}}</ref> [[crowd-funding]],<ref name="Crowdfunding" /> [[private companies]], [[non-profit foundation]]s, and [[professional organization]]s.<ref>{{Cite web|url=http://www.webguru.neu.edu/undergraduate-research/research-funding/possible-funding-sources|title=Possible Funding Sources|access-date=2014-11-30|archivedate=2019-06-09|archiveurl=https://web.archive.org/web/20190609121356/http://www.webguru.neu.edu/undergraduate-research/research-funding/possible-funding-sources|url-status=deviated}}</ref> Philanthropists and foundations have been pouring millions of dollars into a wide variety of scientific investigations, including basic research discovery, disease cures, particle physics, astronomy, marine science, and the environment.<ref name="Billionaire Ideas" /> Privately funded research has been adept at identifying important and transformative areas of scientific research.<ref>{{Cite journal |last1=Anderson |first1=Barrett R. |last2=Feist |first2=Gregory J. |date=2017-03-04 |title=Transformative science: a new index and the impact of non-funding, private funding, and public funding |url=https://www.tandfonline.com/doi/full/10.1080/02691728.2016.1241321 |journal=Social Epistemology |language=en |volume=31 |issue=2 |pages=130–151 |doi=10.1080/02691728.2016.1241321 |s2cid=151739590 |issn=0269-1728 |archive-date=2023-04-25 |access-date=2022-03-28 |archive-url=https://web.archive.org/web/20230425023138/https://www.tandfonline.com/doi/full/10.1080/02691728.2016.1241321 |url-status=live |url-access=subscription }}</ref><ref>{{Cite journal |last=Diamond |first=Arthur M. |date=April 2006 |title=The relative success of private funders and government funders in funding important science |url=http://link.springer.com/10.1007/s10657-006-6647-0 |journal=European Journal of Law and Economics |language=en |volume=21 |issue=2 |pages=149–161 |doi=10.1007/s10657-006-6647-0 |s2cid=17707551 |issn=0929-1261 |archive-date=2023-11-01 |access-date=2022-03-28 |archive-url=https://web.archive.org/web/20231101044216/https://link.springer.com/article/10.1007/s10657-006-6647-0 |url-status=live |url-access=subscription }}</ref> Many large technology companies spend billions of dollars on research and development each year to gain an [[innovation|innovative]] advantage over their competitors, though only about 42% of this funding goes towards projects that are considered substantially new, or capable of yielding radical breakthroughs.<ref name="Business Strategy">{{cite tech report|url=http://www.strategyand.pwc.com/global/home/what-we-think/reports-white-papers/article-display/2014-global-innovation-1000-study|title=Global Innovation 1000: Proven Paths to Innovation Success|first=B.|last=Jaruzelski|author2=V. Staack|author3=B. Goehle|institution=Strategy&|year=2014|issue=77}}</ref> New scientific start-up companies initially seek funding from [[crowd-funding]] organizations, [[venture capitalists]], and [[angel investors]], gathering preliminary results using rented facilities,<ref>{{cite web|url=http://www.sfgate.com/news/article/New-Palo-Alto-lab-for-life-science-startups-5717097.php|title=New Palo Alto lab for life science startups|author=Stephanie M. Lee|date=27 August 2014|work=SFGate|access-date=30 November 2014|archive-date=28 April 2023|archive-url=https://web.archive.org/web/20230428170337/https://www.sfgate.com/news/article/New-Palo-Alto-lab-for-life-science-startups-5717097.php|url-status=live}}</ref> but aim to eventually become self-sufficient.<ref name="Crowdfunding">{{cite journal|title=Finding philanthropy: Like it? Pay for it|first=Jim|last=Giles|journal=Nature|volume=481|issue=7381|pages=252–253|date=2012|doi=10.1038/481252a|pmid=22258587|bibcode=2012Natur.481..252G|doi-access=free}}</ref><ref>{{cite web|url=http://onstartups.com/tabid/3339/bid/76387/7-Lessons-On-Startup-Funding-From-a-Research-Scientist.aspx|title=7 Lessons On Startup Funding From a Research Scientist|author=Dharmesh Shah|access-date=2014-11-30|archive-date=2018-05-24|archive-url=https://web.archive.org/web/20180524171127/http://onstartups.com/tabid/3339/bid/76387/7-Lessons-On-Startup-Funding-From-a-Research-Scientist.aspx|url-status=live}}</ref>

Europe and the United States have both reiterated the need for further private funding within universities.<ref>{{cite web |title=Research and Innovation |url=https://ec.europa.eu/regional_policy/en/policy/themes/research-innovation/ |access-date=2022-03-28 |website=ec.europa.eu |language=en |archive-date=2022-03-28 |archive-url=https://web.archive.org/web/20220328144120/https://ec.europa.eu/regional_policy/en/policy/themes/research-innovation/ |url-status=live }}</ref> The European Commission highlights the need for private funding via research in policy areas such the European Green Deal and Europe's role in the digital age.<ref>{{Cite journal |last1=Muscio |first1=Alessandro |last2=Quaglione |first2=Davide |last3=Vallanti |first3=Giovanna |date=February 2013 |title=Does government funding complement or substitute private research funding to universities? |url=https://linkinghub.elsevier.com/retrieve/pii/S0048733312001199 |journal=Research Policy |language=en |volume=42 |issue=1 |pages=63–75 |doi=10.1016/j.respol.2012.04.010 |hdl=11385/36074 |hdl-access=free |archive-date=2022-10-20 |access-date=2022-03-28 |archive-url=https://web.archive.org/web/20221020134305/https://linkinghub.elsevier.com/retrieve/pii/S0048733312001199 |url-status=live }}</ref>