Crowd-sourced funding website Kickstarter is finally making its eagerly anticipated move across the pond.
Several months after it announced plans to expand into the UK, Kickstarter on Wednesday officially made the leap. UK residents with entrepreneurial dreams can now submit their projects, the first of which will go live on 31 October.
To get started, click the "Start a new project" on the Kickstarter homepage and select the UK as your home country. The company will send you an email when you're allowed to hit the launch button.
"We thought the three-week gap would give everyone plenty of time to build and tweak their projects before launching. Beginning October 31, they can launch and share their projects with the world," Kickstarter said in a blog post.
The company will not be hosting a separate Kickstarter page for UK projects; it will simply add projects from Great Britain to the larger Kickstarter.com.
UK projects, however, will be listed in pounds, but those donating funds in the US will see their pledges converted into dollars before the funds go through. Moreover, UK projects will not be processed by Amazon Payments but by an unnamed third-party payments processor, Kickstarter said.
Like in the US, successful projects will incur a 5 per cent fee, while those with unsuccessful projects will not be charged.
Meanwhile, Kickstarter has clarified some of its shipping policies. Projects will now make it more obvious when the project creator wants the donors to handle international shipping charges for rewards. Kickstarter also made it easier for creators to specify that they will only ship within certain territories, saying: "International shipping can be a difficult part of the process."
Not everyone is entirely convinced by the funding scheme, however, with leading analyst Sascha Segan among those questioning whether raising millions of pounds for hardware projects without a solid supply chain makes Kickstarter a bubble.