They are, after all, looking for an answer to tinnitus.
I think that's a fair point. And also something I echoed earlier on.
I am neither here to endorse the funding campaign, nor to excessively criticize it. After having reviewed all the material available on both websites, I would like to mention the following:
1) There is a reasonable amount of transparency (cost break-down and project timeline).
2) The project seemingly has the endorsement of the Lord Mayor; perhaps he could endorse it "fully" by making a symbolic donation of eg. $1000 or $5000...?
3) The timeline is aggressive (with a clinical trial already set to start later this year - "nice" and something
tangible instead of "we will be working on this for the next 5 years before we are ready...").
4) I can only assume(?) that, a project run by people with Ph.Ds, must have some substance to it - otherwise they would not (or rather - should not) consider the funding campaign.
5) Few, if any, side-effects from treatment (unlike eg. drugs).
6) A remedy easily distributed(?) to the masses via download (if it works!).
However, as I was the first to point out, the whole project hinges on the theory actually working (needless to say) ie. find a "victim" and test it first (just once, at least!). And it is still unclear to me whether - "written inbetween the lines" - the project members actually have some kind of "proof" which they are not explicitly mentioning at this point. From the demonstration video, there seems to be some kind of prototype already in place - but of course, that could simply be purely illustrative...
As it happens, I actually have a fair bit of knowledge of start-ups. My Father represents an organization which since 2010 has raised €56 million in capital for start-ups that had no capital whatsoever to begin with. The capital raised essentially represents their intangible asset value ie. capital raised purely because investors are willing to invest in the start-ups because of the business potential behind the ideas. The trick is to select those good ideas and get them visible in front of big sponsors. The raised capital of €56 million proves the concept works, but also that there really are some good ideas out there...
So I am a bit on the fence on this one. I'd like to see more evidence, but I recognize the difficulty of getting funding for start-ups, and I appreciate the effort the small team has so far put together in terms of the all the material available on their websites. But... at the same time, sound suppression is not a new topic in terms of tinnitus treatments. But of course
their approach is.
Financially speaking, the problem with crowdfunding is that it is funding by donation (and not by investment). Had it been by investment, the investors would be running a risk, but also get the chance of harvesting the fruits if the business idea survives. I'd like to see the possibility of getting eg. a guaranteed spot on the clinical trial for those who pay the $10,000,- item (as an example - and provided it is legal to do so). This would add a bit of payback to the donation.
As with any tinnitus treatment, I of course hope that it will be successful. This one included.