Kickstarter Comes to the UK
US platform Kickstarter, which famously invites public donations to projects in return for token rewards such as limited edition first batch runs of products, t-shirts etc, has been launched for the UK.
Since the 31st October, UK-based projects are able to access the "crowd-funded" Kickstarter platform and bid for funding. The UK projects sit alongside the current US projects and are listed in pounds sterling.
For budding funders outside the United Kingdom the UK-based projects can be seen in equivalent US Dollar conversions.
The mechanics of UK Kickstarter projects are exactly the same as their US counterparts – UK projects offer an incrementally increasing level of rewards dependent on backers’ pledges and the all-or-nothing funding system is in place here too.
What that means is that projects are required to get pledges for their full amount of funding or take nothing at all.
Successful crowd funding projects will see a 5% fee to the Kickstarter platform, unsuccessful pitches will be charged zero.
Pledges are also charged, dependent on the level of investment.
Since its inception in 2009 Kickstarter has seen pledges totalling over $350 million toward 30,000 projects.
Crowdcube, a UK-based crowd-funding platform has raised £4.25 million over the past 18 months for 29 projects with Luke Lang, Crowdcube’s co-founder saying:
“It’s exciting times for the UK crowd-funding industry. The buzz created by the much-anticipated launch of Kickstarter in the UK will raise awareness of crowd-funding.”
And then there’s new kid on the block Bank to the Future.
For more information on Kickstarter, the funding platform for creative projects, visit the Kickstarter website and see over 200 projects in the United Kingdom listed.