Kickstarter launching in Hong Kong and Singapore this month, in boost for start-ups
Crowdfunding platform expanding to Asia will make it much easier to launch projects, though many in continent have overcome tough hurdles to raise funds on the website already
Kickstarter is expanding to Hong Kong this month – part of its first foray into Asia – giving start-ups in the city access to one of the world’s largest product crowdfunding platforms.
On Kickstarter’s new Hong Kong site is a message: “Coming soon: Kickstarter for creators in Hong Kong! Big news, Hong Kong. You’ll soon be able to launch projects on Kickstarter. Stay tuned for more details.”
The platform says its Hong Kong website will be up and running by the end of August, but has not set a launch date yet. It will launch in Singapore at the same time.
Kickstarter is currently available in the United States, Britain, Australia, and 15 European countries. Creators from other places have to jump though complicated hoops to launch an appeal for funds. They need a physical address, bank account, and credit card in one of the existing markets and are subject to tax regulations in the host country.
Asia has been a huge supporter of Kickstarter projects. In 2015, US$34 billion was raised worldwide through crowdfunding efforts, with over US$10 billion coming from Asia.