Virtual Drug Discovery: Online Sources of Funding
This is Part 2 in a four-part series in which Dr. Kevin Lustig and Dr. Maria Thompson explore a new paradigm for virtual drug discovery in a published series of articles on Pharmaphorum.
(Check out Part 1, Part 3, Part 4).
In part two of our series on virtual drug discovery published in Pharmaphorum last month, Dr. Kevin Lustig and Dr. Maria Thompson of Scientist discussed the changing face of life science research, and detail how scientists can raise money to support research projects through new and innovative means.
Drug discovery and life science research are changing before our very eyes. In part one of this series about virtual drug discovery, we discussed how the mass of raw data now available online, and free for anyone to access, had reached a critical mass. Moreover, that mass of data has enabled some forward thinking scientists to abandon wet lab work almost entirely and turn instead to data mining to make new discoveries and new inventions.
In this second part of our series we will discuss how new funding channels are opening up thanks to a mix of social media and Internet enabled connectivity. Channels that enable scientists (and non scientists) to find funding to support their research, bypassing the traditional funding channels entirely.
“…the biggest barrier to entry for anyone contemplating a scientific endeavor is how to fund your project.”
Science is an expensive business, and probably the biggest barrier to entry for anyone contemplating a scientific endeavour is how to fund your project. All life science projects require two things (besides a hard working, passionate advocate):
- Facilities: a place to work including all the necessary equipment, technology and hardware
- Funds: money to pay for all the consumable and other stuff you need to run the research project
Below we discuss how to get your hands on both of these necessities if you have a good, testable idea (see part 1 of the virtual drug discovery series on how to come up with good ideas).