To invest in the best batches of tech startups, there’s naturally no better place to look in the country other than Silicon Valley.
It’s the technology nerve center where ideas, capital and culture find chemistry and generate more venture capital and filed patents than anywhere else in the United States.
But as we covered yesterday, those opportunities can be difficult to invest in, and I’m talking about before their inflated IPO prices. And the best startups that don’t make it to IPO status are intercepted by quick and quiet acquisitions. Google, for example, since 2009 has been acquiring one company per week.
But Tomorrow in Review has connected with two extraordinary entrepreneurs who’ve founded a company with a novel solution.
It’s called Blueseed.
It was inspired by those who’ve experienced even more difficulty investing and/or founding startups in Silicon Valley. That is, it was inspired by immigrants. Why?
Long story short:
There are simply no U.S. visas available for entrepreneurs, the alternatives are inadequate, and progress on legislation like the Visa Startup Act isn’t happening. But the demand is there.
According to TIME, “tech executives often talk about a shortage of highly-skilled workers and the need to make it easier for immigrants with such skills to come to the U.S.”
Mid-way through 2012, the cap on H-1B visas — which allow educated foreign workers to get a job in the U.S. — had been reached. This year is so far following suit.
But back to the solution!
Blueseed’s idea is this…
You may have heard of sea steading, the concept of creating permanent dwellings at sea outside territory claimed by the government of any standing nation.
Well, Blueseed is the first commercial sea steading venture.
Strategically positioned 12 miles off the California coast, it would bring in the world’s top 1000 entrepreneurs closer to Silicon Valley without being subject to the same immigration laws.
The plan is to remodel a cruise ship or barge, equipped with all the high-tech amenities expected of a startup incubator. Internet connectivity would be provided via submarine communications cable, a laser link, point-to-point microwave link, or a mesh network of wireless routers placed on buoys.
The idea may some crazy, but giant cruise liners and offshore oil platforms already prove such maritime structures can be orchestrated. And while true sea steads may still be a distant dream, the seasteading movement is producing some novel ideas for ocean-based businesses that could act as stepping stones towards their ultimate goal… cities in the sea around the world.
So far, over 700 start-ups expressed interest in working from the boat, which will also offer housing and recreational services. They now have more than 1100 individuals from 336 companies and 64 countries who have officially applied, with several committed legal and venture capital partners.
As far as we can tell, as long as all the productive work is done on the ship and entrepreneurs are only coming onto the mainland for meetings and such, it’s perfectly legal.
But of course, they plan on using this seed investment to work out all of the nitty-gritty policy details needed to be tackled before leasing or buying a ship. Once they get to that stage, they will seek a much larger round of financing. The team continues to raise capital, build logistics and infrastructure and waitlist a deluge of interested start-ups.
Target date for the Blueseed launch is the second quarter of 2014, provided that $18M more is raised. Given that Blueseed plans to have accelerator programs that take equity in startups, which have the option of then going back to Silicon Valley to set up camp… now may be the time to invest in Blueseed.
You can send them a message at this link.
There are some great technology companies worth billions of dollars like photo-sharing website Instagram, and microblogging platform Tumblr. But...that doesn't make them great businesses either. Mainly because they don't actually make any money. Here are two examples of a great idea that people love, but don't pay for.
Josh Grasmick is managing editor of Tomorrow in Review and associate editor of Technology Profits Confidential and Breakthrough Technology Alert. After graduating from Washington College with a degree in English, the self-described autodidact was interviewed by Time magazine for his novel entrepreneurship and worldwide eco-adventures. His experience with those in the fields of science, medicine and technology puts readers ahead of the curve and on top of the market.
Awesome! More and more people are finding that government is making itself obsolete. Here people are trying to create a future for humanity and all the gov is doing is worrying about taking rights away from us and how they can spend more and not pay for it.
"There are two sides to every coin," as the saying goes. And nowhere is that phrase more apt than in matters of money, especially as regards the U.S. Federal Reserve. Today, Mark Spitznagel squares off against none other than Paul Krugman to discuss that very topic. What follows is sublime entertainment. Read on...
As long as markets exist, there will people who try to predict where they are headed. Of course, no one can know for sure. And as Greg Guenthner explains, their prognostications can sometimes do more harm than good. Read on...
A massive storm recently blanketed the U.S. northeast. And as it did, most people ran to their thermostats to keep warm. But staying warm and cozy this winter comes at a price, even with the U.S. nat gas boom in full swing. Today, Matt Insley explains why, when it comes to nat gas prices, seasonality definitely matters. Read on...
Like it or not, size does matter. But contrary to a popular saying, bigger is not always better. Especially when it comes to the size of the state. Marc Faber explains why a world of smaller states might function better than one dominated by excessively large "superpowers." Read on...
Pope Francis recently warned people to beware the "tyranny" of capitalism. Hmmm... Would that be true capitalism and trust in free enterprise? Or the crony capitalism we're currently saddled with? Bill Bonner explains why, even though capitalism is easily corrupted by the capitalists, that doesn't necessarily mean it is a bum creed. Read on...
The average postwar U.S. expansion has lasted 58 months. In the midst of major policy dislocation in Congress and at the Fed, we are at month 52 of the current expansion, which began in June 2009. But we are running out of time – and luck.