Crowdfunding website Kickstarter is available to entrepreneurs living in New Zealand for the first time today, but its launch could destroy a local kiwi business.
The wildly popular website is famous for helping creatives fund their projects and has drawn some big names over the years.
It works a bit like traditional fundraising, but with a few tweaks here and there: hopefuls outline their project on the website, sharing their dream and setting the amount of money they need to make it happen.
Donors can then pledge funds to support the project, often in exchange for a reward, but developers are held to a deadline – most projects have around a month to pull in the funds they set.
If they can’t reach their goal in time, the deal is off and pledges are returned.
The concept has exploded across the world and Kickstarter is at the forefront, funding some…
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