Kickstarter arrives in Italy

Kickstarter, the site where entrepreneurs can receive crowdfunding for their startups, announced a European expansion that includes Italy, announced in Barcelona during the city’s annual Sónar+D festival that celebrates creativity, technology and business.

The expansion couldn’t have come at a more perfect time, since many Italian innovators have left the country in the past decade because they can’t find  funding to launch their projects. The Bank of Italy’s annual report stated that funding for startup companies and operations with advanced technology have decreased in 2014.  Investments in venture capital have also decreased  by almost half from 81 million in 2013 to 43 million in 2014. As a result, many Italian startups have actually planted roots far from their founders’ native soil.

Before Italy joined Kickstarter, Italians would have to find a resident with a bank account abroad to fund their projects, but now fundraising can be collected using Italy’s own language and currency.

With the expansion, Italy can offer its signature fashion, food and technology. “Italy has already contributed much to world culture,” said Yancey Strickler, co-founder and CEO of Kickstarter. “Now Kickstarter will help creative Italians realize their innovative ideas.” With Kickstarter, Italian projects have an opportunity to gain global support, and project creators keep 100% ownership of the work.

Kickstarter is a funding platform for anyone who wants to launch a creative project. The projects can be anything from music, art, technology, film and design. Project creators set up a funding account and must raise the money by the deadline date or else they lose the donations. This all-or-nothing atmosphere pushes users to achieve their goal in a short amount of time, and it’s proven to be effective: 44% of projects have been successful in reaching their goals. Kickstarter launched on April 28, 2009 and since then has collected $1.5 billion and funded more than 80,000 projects. It’s become the world’s largest funding platform and helped launch an Oscar-wining film and works displayed in the Museum of Modern Art.

Kickstarter’s expansion hopes to add more European culture and creativity since the continent is known for its historical music and art. The inspiration for Kickstarter itself is linked to Mozart. The idea of raising money for projects has been present for centuries. Many artists would help fund their works by donations from subscribers. In 1783 Mozart wanted to preform three concertos in a Viennese concert hall and tried to raise money by offering manuscripts to whoever pledged. Although Mozart didn’t reach his goal, he tried again a year later and was successful. As promised, he thanked all the supporters on the concertos’ manuscript.

-Meki Shewangizaw