Crowdfunding in medical research is becoming more popular owing to increasing competition
for the shrinking amount of government funding. To inform researchers applying for
this complementary source of research funding, we investigate the determinants of
successful crowdfunding campaigns in medical research. We find that establishing and
maintaining professional contacts through social media is of major importance for
successful crowdfunding campaigns; an additional tweet or retweet significantly increases
the success of crowdfunding campaigns. In contrast to the stated preferences of prospective
donors, we document that crowdfunding campaigns can achieve their fundraising goal
regardless of the disease characteristics. Scientists could therefore request funding
for any kind of project, including therapies for rare diseases and diseases with lower
mortality rates.
