Step 3: Funding the Launch of VeriMe
One of the biggest challenges for any start-up is obtaining the funding to get the initiative launched.
Different types of organizations (corporate, non-profit, cooperative) have different funding opportunities. Corporations tend to seek venture capital or angel investors, both of which are looking for a role in governance, equity shares in proportion to investment, and a substantial monetary return. Non-profits are eligible for grants and loans, but non-profit startups usually have to work with a fiscal sponsor to qualify for grants, and many do not consider loans because of business model concerns.
VeriMe Cooperative is established so that any returns flow back to its members – workers and researchers. We are not in this for founder or investor equity exit, but rather for sustained mutual community benefit. From a pre-launch fundraising perspective, that limits our options to loans, grants, and pre-launch member fees. Add to that a general lack of familiarity with cooperative structures, and we have a bit of a struggle raising funds.
Yes, yes, we dug this hole.
And yes, we can be even more excited when organizations get what we are trying to do and offer a helping hand.
“We are ecstatic that Digital Science has stepped up and offered their support in the form of a start-up grant,” said Laure Haak, VeriMe co-founder. “They have been at the forefront of re-imagining digital scholarship in service of research integrity, in particular through their support of entrepreneur-researchers. They see the value of privacy-first identity verification workflows, and their grant will help VeriMe work with partner organizations and researchers to define use cases, refine our APIs and UX, and get that much closer to launch.”
Dr Daniel Hook, CEO, Digital Science said: “Digital Science is proud to support VeriMe Cooperative in its mission to provide digital research verification services. We see this as a practical and important step towards safeguarding research integrity and research security, and building people’s trust in research.
“At Digital Science, we have a strong track record in providing solutions to researchers, institutions, governments, funders, industry, and publishers that support research integrity and security, including funding for start-up ventures as seen in our Catalyst Grants for 2024. We hope that by supporting VeriMe with start-up funding, the cooperative can thrive for the benefit of the entire research ecosystem and for society,” he said.
We have got a ways to go on fundraising. We are seeking aligned organizations, excited about investing in open-by-design research infrastructure. Let’s talk! You can follow us on LinkedIn @VeriMe Cooperative LCA, or, better yet, contact us directly!
Looking forward to the conversations!
For more information:
VeriMe Cooperative is a limited cooperative association based in Colorado, US. VeriMe is founded upon the principle of cooperation. We benefit from and contribute to the research ecosystem, particularly to increase trust in digital infrastructure that supports scholarship and research; supply methods and services for supporting integrity and trust in digital research contributions; and ensure trust and integrity in research contributor digital identity worldwide. For media and other inquiries, see our website at verime.coop or contact us directly at info@verime.coop.
Digital Science is an AI-focused technology company providing innovative solutions to complex challenges faced by researchers, universities, funders, industry and publishers. We work in partnership to advance global research for the benefit of society. Through our brands – Altmetric, Dimensions, Figshare, IFI CLAIMS Patent Services, metaphacts, OntoChem, Overleaf, ReadCube, Symplectic, and Writefull – we believe when we solve problems together, we drive progress for all. Visit digital-science.com and follow Digital Science on Bluesky, on X or on LinkedIn.
