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Sustainable Business Plan Development for ORCID: Funding Strategies and Progress

Explore the development of a sustainable business plan for ORCID, including funding sources and progress made with donations, grants, and loans. Learn about the business model feasibility study, investment capital needed, revenue streams, and next steps for ORCID.

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Sustainable Business Plan Development for ORCID: Funding Strategies and Progress

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  1. Cool – who’s going to pay for that? ORCID BWG (Business Working Group) Outreach Meeting, September 16th, 2011

  2. BWG – who are we? • Gregg Gordon, SSRN • Karen Hunter, Elsevier • Dave Kochalko, Thomson Reuters • Salvatore Mele, CERN • Ed Pentz, CrossRef, co-Chair • Lisa Schiff, California Digital Library • MacKenzieSmith, MIT • Craig Van Dyck, Wiley, co-Chair

  3. BWG Remit • …responsible for developing a business plan, including funding options, and membership and affiliate policies for Board approval. • …will coordinate its work with the TAG and the OWG.

  4. Business Plan - for a sustainable organization • BWG sub-groups developed initial proposals on what fees could be charged (mid-2010) • Membership fees; transaction fees; fee-for-service (real-time access, alerts, bulk querying, disambiguation) • ORCID Survey (late 2010) asked about • Willingess to pay • Ideas for ways to fund ORCID • Mellon grant to fund business model feasibility study

  5. ORCID funding so far…. • In kind (2010) – staff time; board, working groups, technical and legal • Sponsorship 1 (early 2011) - $244,000 in donations from Founding Sponsors • Small grants (mid-2011) – Mellon ($49,000); VIVO ($25,000) • Sponsorship 2 (late 2011) – announced in August to get additional $250,000 • Major loans and grants (late 2011/early 2012) - Mellon funded feasibility paper and more detailed business plan

  6. Business Model Feasibility Study • $49,000 grant to fund consultant Raym Crow • PIs from MIT, Harvard, and Cornell – MacKenzie Smith taking the lead for ORCID • Report on sustainable business model for ORCID - focus on academic institutions; also publishers, funding agencies, other stakeholders • Mainly U.S., but considering international interests • Will inform decisions about ORCID business models with October 2010 Participant survey

  7. ORCID Sustainability Framework • Framework for modeling scenarios • Baseline scenario that can be adjusted • What drives the model: development and operating costs; market sizing; price points, adoption curve

  8. Costs

  9. Who’s the market? • Universities and research institutes • Government and private funders • For profit publishers • Non-profit publishers

  10. What are fees? • Initially tiered annual membership fees • One time capitalization fee (JSTOR, ARTstor)

  11. Revenue

  12. Investment capital required? $2.725 million

  13. Investment Capital • Donations • Grants • Loans

  14. Next Steps • Refine cost assumptions • Revise market sizing, pricing and adoption curve assumptions • Update cost and revenue projections • Recalculate investment capital required • Get loan commitments • Pursue grants

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