Kickstarter which is an American based company has been expected to kickoff activities in Canada for a long time and since it is already in operation many are waiting to see the positive impact it is going to have on creativity of projects. Through crowdfunding kickstarter has been able to fund many projects in different sectors including projects in the music, journalism, film, programming, and hotel industry. Due to the positive attitude of the Canadian people, over a 3,000 projects have launched in Canada since they were given the green light to build projects. Just like any other projects in Canada kickstarter projects work in almost the same way with a few differences in mechanics and charges.
Since it is a platform for gathering money for investments kickstarter, has become popular among many in Canada and those based outside Canada are also capable of pledging on any projects in Canada through kickstarter. Even though there is no specific kickstarter site that is specific to Canada, through the kickstarter homepage backers based outside Canada can view a list of projects based in Canada under the locations sections and the Discover page. Despite the fact that creators based in Canada use Canadian dollars when they are listed, backers pledging from outside Canada will have a chance to see the conversion rate before they pledge.
Just like any other platform kickstarter also has some guidelines that are to be observed when creating or pledging for a project. These guidelines are based on three rules; only projects are funded, projects must fit in one of the categories provided, and everyone should abide by the prohibited uses.
The difference in mechanics when compared to US projects is that when pledging on Canadian projects backers will use kickstarter instead of using Amazon payments and the pledges processed by a third party. Kickstarter also charges a 5% fee for successful funding to projects and no charges to unsuccessful projects. Processing fees are the same as those of UK based projects and these are; 5% + $0.05 CAD on pledges less than $10 CAD and 3% + $0.02 CAD on pledges of $10 or above. In Canada kickstarter is receiving a positive perception including a notable comment by the Canadian research on small businesses that views the step as a huge one towards business development. Many are not only embracing it but also taking time to preach on the wonderful opportunities it has brought forth for their businesses through wooing of investors. In the past Canadian before it was launched in Canada most entrepreneurs were accessing it by avoiding and bending the rules. In other cases they had to use US based friends to create kickstarter projects.
It would be right to say that kickstarter has had a smooth sail since it was first started in 2008 and it can be expected that it will be a leading platform for crowdfunding in Canada for some time to come. Due to its wide coverage it has also made it possible for donors, investors, and creators in Canada to cross boulders and source funds from a larger group of people.