Microfinancing is a term most commonly used to describe the financial services provided to help people out of poverty. Now the term is being applied to research projects funded by numerous small contributions of money. Over the last 3 years, a number of microfinancing initiatives for science research have emerged in the US.  

One example is the Open Source Science Project.

Pop science?  Sure, people will donate to cool stuff or pet beliefs, but it also will increase science literacy, says the article in Chemistry World.

It's not a free-for-all, projects are peer reviewed before getting a chance to compete for funding.  But researchers also retain complete ownerships and publication rights.

H/T Jonathan Eisen