Kickstarter, the US crowdfunding platform for creative projects, has opened for UK projects. Project details can be entered from today, but the fundraising won't begin until 31 October.
In the USA Kickstarter has generated over $350 million from more than 2.5 million people for 30,000 projects since it launched in April 2009.
How does Kickstarter work?
Thousands of creative projects are funding on Kickstarter at any given moment. Each project is independently created and crafted by the person behind it. The filmmakers, musicians, artists, and designers you see on Kickstarter have complete control and responsibility over their projects. They spend weeks building their project pages, shooting their videos, and brainstorming what rewards to offer backers. When they're ready, creators launch their project and share it with their community.
Every project creator sets their project's funding goal and deadline. If people like the project, they can pledge money to make it happen. If the project succeeds in reaching its funding goal, all backers' credit cards are charged when time expires. If the project falls short, no one is charged. Funding on Kickstarter is all-or-nothing
There will not be a UK-specific Kickstarter site. UK-based projects will be listed together with all other Kickstarter projects. People from around the world can make pledges to UK-based projects. The projects will be listed in sterling: pledgers from other countries will see an approximate conversion rate before they pledge.
Fees for Kickstarter in the UK
The charging process is the same as the USA: Kickstarter charges a 5% fee to successfully funded projects and no fee to those projects that do not reach their target.
For UK projects payment processing fees are:
• Pledges less than £10 are charged 5% + £0.05
• Pledges of £10 or greater are charged 3% + £0.20
What can Kickstarter be used to fund?
Kickstarter does not allow charity, cause, or "fund my life" projects. It does allow creative projects in the worlds of @Art, Comics, Dance, Design, Fashion, Film, Food, Games, Music, Photography, Publishing, Technology, and Theater.
For further information, visit: www.kickstarter.com