How does your model address financial, social, and environmental sustainability?
Currently we are looking for a small level of funding to develop a concept site that we can offer universities to demonstrate the idea of ShareSci.
On successful launch of this site, a small level of income will be generated from university subscribers (approx. £20-30k/year). This income(along with enhanced grant funding) will be reinvested in the development of a full scale site which will provide enhanced functionality, and management features which will allow a more scalable product. We expect the development of this site to take 1.5 years including testing, upon launch the site will be offered to universities across the UK.
After development of the main site and its launch, revenue can increase as we experience growth, with an estimated 10% of UK researchers(16,000) on board profits will be in the region of £100k/year. This money is raised through institutional subscription fees which will be set at a minimal level.
Any profits after re-investment in R&D will be used to generate grants to help support students in higher education or to organize conferences dedicated to public outreach.