Discuss: Kickstarter launch in Singapore and Hong Kong

It’s been a long time coming, since its founding in 2009. There was much buzz everywhere about the platform, which allows you to fund your creations and ideas.

Kickstarter craze took over the world.

Kickstarter offerings

Over time, we have seen the weirdest offerings, from combat kitchenware to someone getting backed a thousand dollars in finding out how delicious a chicken burrito is.

And of course, the ones that made it with overly successful backings like the Pebble and Exploding Kittens.

Kickstarter proved to be a great avenue for creators to showcase and crowdfund for their projects, getting both immediate public reactions and customers even before the product is fully ready.

Singaporeans were already at it

Even before its launch here in Singapore, we have seen Singaporeans trying their hands at the platform.

One such example is Pirate3D, which was received with huge fanfare and exceeded fan backing, then was unable to handle the overwhelming orders.

Then there’s Wongamania, a local made board game designed to teach its players about economy and wealth management. And the sweet looking BOLDR hybrid smartwatch that also surpassed its targets on the platform.

However, as my colleague Michael explained in his article, before the launch, “companies from Singapore previously needed at least a legal presence, bank account, and credit card in one of those countries and raise funds in those specific currencies.”

My thoughts

To be frank, I don’t see any massive hype surrounding the local and Hong Kong launch. It’s one of those things we’ve already seen happen before it happens, kind of like those who already started playing Pokemon Go before its release here.

All I foresee happening would be more campaigns, hopefully great ones, and an added avenue to raise funds for a product/idea without barriers. But wait, wasn’t there Indiegogo already? With its less stringent policies and all? What do you think?

I have invited some of our awesome community members with experience doing Kickstarter projects prior to this. Feel free to ask them about the in’s and out’s, and perhaps learn some top tips if you’re to embark on your own campaigns.

Xeo Lye, Founder at Wongamania (Funded $15,210 of $10,000 goal for Wongamania)

Let’s discuss: