[Doctorpills]

10:23 GMT, 6 June 2012 Daily Mail

It’s a tentative anchors away for the world’s first floating start-up as more than 250 companies have
expressed interest in joining Blueseed, a massive ship anchored in international waters off the coast
of California’s Silicon Valley. The concept of the visa-free metropolis is simple – allow entrepreneurs
from any country to do business near Silicon Valley, even if they cannot acquire a United States visa.

Blueseed says that start-ups from 52 different countries are expressing interest, a positive sign in
getting the conceptual ship out into the open.



Nearly 30 per cent of start-ups interested are from the U.S., though India, the UK, Australia, Canada,
and Spain also expressed interest. Blueseed will charge around $1,600 monthly rent, and requires a cut
of around 6.5per cent of company shares.

While the massive ship offers hope for entrepreneurs wanting to do business in America, there is still
little momentum for so-called start-up visas, which would allow those whose businesses earn more than
$100,000 in venture capital to stay in the country indefinitely. The company’s website states that only a
passport is needed to live and work aboard the vessel, and that it will collect no taxes.

Residents would be ferried ashore with temporary business or tourist visas, which are easier to get, to
meet with investors, collaborators, partners and others. Mr Mutabdzija said the ability to have face-to-face
meetings cannot be underestimated when trying to gain trust - and secure funds - from investors.



The proximity to high-tech's center, Silicon Valley, is also important. 'The talent, the money, the expertise
and a cultural acceptance of risk. Elsewhere if it doesn't work out, you're a black sheep and the funds dry
up,' Mr Mutabdzija said.

The ship would be a remodeled cruise ship or barge that Blueseed leases or owns.

It would have all the high-tech amenities expected of a start-up incubator and the look of employee-friendly
Internet giants Facebook and Google, famous for their modern campuses complete with gourmet cafeterias,
exercise facilities and an environmentally-sustainable design. A live-work space would cost about $1,200 a
month.

Logistical support, including food and other supplies, would come from local businesses along the coast,
helping the economies of Half Moon Bay and San Francisco, though it hasn't been determined exactly which
port Blueseed would use. A helicopter would also be available for emergencies.

Blueseed's idea has started gaining steam. Silicon Valley investor Peter Thiel, a founder of PayPal, announced
he would lead Blueseed's financing search. Mr Thiel has been a big supporter of 'seasteads' - self-ruling cities
on the ocean - and both Mr Marty and Mr Mutabdzija worked at the Seasteading Institute.

Blueseed wants to raise $10million to $30million over the next year and a half. The goal would be to launch in
late 2013.

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