Move over Dragon’s Den, there’s a new kid on the block. The US crowdfunding site Kickstarter has revealed that it will launch in the UK on October 31
The site will give business bods the opportunity to raise funds to cover the cost of their ventures, with donations being coaxed from members of the public who can choose which projects to back.
An American initiative, Kickstarter is a platform used by entrepreneurs to raise funds from the public to help kickstart (pun intended) their projects. The site charges a 5 per cent commission on the amount raised for successful projects, plus further payment charges of about 4 per cent.
Ideas such as Ouya, the Ostrich power nap pillow and The Lotus are all initiatives that launched off the back of Kickstarter funding. The New York-based firm, which launched three years ago, has already raised $380m from 2.5m people for about 30,000 projects.
Words: Bertan Budak