Thinkable is a promising new crowd funding connection between researchers and sponsors (including the public at large). Founded by oceanographer and chief scientist Ben McNeil “the idea for Thinkable comes out of Ben’s frustration over the lack of funding for basic research and a passion for blue-sky thinking.” Ben’s recent arstechnica essay is a good introduction to why he believes science funding is broken; paired with the solution proposed by Thinkable: Is there a creativity deficit in science? If so, the current funding system shares much of the blame.
I won’t try to outline how the Thinkable platform and ecosystem works — the Thinkable website is very well-designed, so you’ll learn more about the venture by just jumping in — and be sure to sign up in your role as a sponsor or a researcher. I decided that the best way to evaluate Thinkable is to participate: I’ve subscribed to sponsor Martin Rees whose current project funding is passing the 50% level: How can we stop blood vessels becoming damaged and sticky during inflammation?
Here’s some of the reasons I’m excited about Thinkable:
- Taking risks is absolutely fundamental to real progress in science and technology. The existing institutional funding channels are highly risk averse — “crazy ideas need not apply here”.
- The path to breakthroughs is cobbled by mistakes. Mistakes are where most of the learning happens.
- Those characteristics are familiar to entrepreneurs who are successful innovators. The venture capitalists who consistently make superior returns know this very well. That’s why Silicon Valley slang is peppered with phrases like “Fail fast” and “Pivot”. “Let’s invest through the pivot” has probably been spoken more than once by a VC looking at superb founders (translation: “these guys are so good we want to work with them, even though their idea is probably going to fail”).
- Thinkable looks to be administratively very lightweight — so that funding goes to support research, not overheads. I understand that 87% of sponsor funding is delivered: after 10% to support the Thinkable platform and about 3% for payment processing fees (Visa etc. Note that once Thinkable can rely on crypto currency payment processing that 3% will fall near to zero)
In my next post on Thinkable I hope to be able to explain who is funding the venture. Please help spread awareness of the Thinkable platform. If this takes off in a big way we could be helping to Change the World.