Kickstarter makes Asian debut in Hong Kong and Singapore

Chris Ratcliffe | Bloomberg | Getty Images

Kickstarter, one of the world's largest crowd funding platforms, made its Asian debut in Hong Kong and Singapore on Wednesday.

Creators in both cities can now put their projects onto the Kickstarter platform in a bid to attract funding from investors around the world.

Previously, they had to set up companies, or work with collaborators, outside Asia in order to put their projects up on the platform that has previously backed famous projects including the Oculus virtual reality headsets and the Pebble smartwatch.

"Kickstarter has empowered millions of people to be part of the development and production of new creative works," said Yancey Strickler, CEO and co-founder of Kickstarter, in a media statement.

Users in Singapore and Hong Kong have been active members of the backer community on Kickstarter since the platform started in 2009, with more than 100,000 people from both cities having made more than 600,000 pledges to creative projects.

To start a project on Kickstarter, a creator has to define its goals and the money needed to complete it, as well as set a deadline to raise the funds. Other users from around the world can then pledge a sum of money in the project.

In exchange, creators offer rewards to their backers in the form of experiences, limited editions or copies of the end product.

Backers are not charged for their pledges towards a project unless it hits its funding goal.

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