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International entrepreneurs in international waters

Blueseed's crazy idea - skip to slides #18 & #54

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Blueseed's bonkers idea for housing non-visa having engineers in the Bay. Park a ship in int'l waters that houses 1000 engineers and ferry/helicopter in to work when needed. No H1B visa required. Skip to slides #18 & #54

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Page 1: Blueseed's crazy idea - skip to slides #18 & #54

International entrepreneurs in international waters

Page 2: Blueseed's crazy idea - skip to slides #18 & #54

Table of contents

1. There's no startup place like Silicon Valley2. But there’s no U.S. entrepreneur visa3. Blueseed’s novel win-win solution4. What will we offer?

1. Cost of living2. Visas3. Questions

5. How can you help?

“I’m packed already”

-- Blueseed fan

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What’s the best place on Earthfor a startup entrepreneur?

Silicon Valley? Keep readingTell me more

Skip next 6 slides

Of course

REASON

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Silicon Valley is the best place for startups – a unique combination of:

Ideas Capital Culture

REASON

Silicon Valley is the best place for startups

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Ideas – US is #1 place to file patents

Source: WIPO - http://www.wipo.int/ipstats/en/statistics/patents/

REASON

Germany

Russian Federation

China

European Patent Office

Republic of Korea

Japan

US

0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000

Patents by office, 1995-2010

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Ideas – Silicon Valley is #1 U.S. area

San Francisco Bay Area

New York-Northern New Jersey-Long Is-

land

Los Angeles-Long Beach-Santa Ana,

CA

Boston-Cam-bridge-Quincy,

MA-NH

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

Top U.S. regions by number ofUS Patent & Trademark Office patents, 2006-2010

Source: http://www.uspto.gov/web/offices/ac/ido/oeip/taf/cls_cbsa/allcbsa_gd.htm

REASON

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Canada

China

Europe

Total:

Source:

$0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00 $9.00$0.10$0.20

$0.70$0.47

$1.40$7.70

Venture capital investment (US$b)

Capital – US is the #1 regionREASON

Source: Ernst & Young - Global quarterly venture capital investment by geography, 2Q’2010

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Sacramento/N.CalSouth Central

Upstate NYNorth Central

Philadelphia MetroSouthWest

ColoradoNorthwestSan Diego

DC/MetroplexSoutheast

MidwestTexas

LA/Orange CountyNY Metro

New EnglandSilicon Valley

Total:

Source:

US venture capital investments by region, 2011

Capital – Silicon Valley is #1 areaREASON

41.0%11.2%9.5%6.8%5.2%5.2%3.7%3.5%3.1%2.7%2.2%1.9%1.7%1.3%0.4%0.4%0.2%

% of total$11930M $3248M $2771M $1986M $1527M $1504M $1091M $1019M $892M $781M $627M $565M $485M $382M $119M $115M $67M

Amount

Source: PricewaterhouseCoopers National Venture Capital Association MoneyTree Report, Regional Aggregate Data 2011http://bit.ly/PWCMoneyTree2011

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Culture – Silicon Valley is unique

Risk taking It’s OK to fail Engineering tradition

World class universities

Cultural diversity

REASON

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So you want to come to Silicon Valley…

PROBLEM

But you are a foreigner!

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“There simply are no US visas available for entrepreneurs”

-- American Immigration Lawyers Association,March 2012

PROBLEM

Source: http://www.youtube.com/watch?v=FLCYfhZEFb8#t=3m15s

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Visa type Can work?

Can self-employ? Expires Restrictions

B1/B2 Business,Tourist or Waiver ✗ ✗ <6 mo/yr in

U.S.Can’t earn income

But can travel!

E-2Treaty Investor,or Employee of

✓ ✓ 2+2+2… yrsNot for India, Brazil, Russia, China “substantial” investment (~$100K)

must own 50%+ of the businesscan’t convert to Green Card

EB-5 Investor ✓ ✓ Never Must invest $1M+ and create 10 jobs

H1-BSkilled worker ✓ ✗ 3+3 yrs

If laid off, must find new sponsor ASAP – there is no grace period

Cap at 65,000 per year

L-1Intra-company

Transfer✓ ✗ 3 yrs Must have worked at foreign

branch for 1+ years

No U.S. visas for entrepreneursInadequate existing alternatives:

PROBLEM

Sources: USCIS, DHS

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No progress in U.S.

Congress on

Startup Visa Acts

• Startup Visa (Mar ‘11) - died• Startup Act (Jun ‘11) - died• IDEA Act (Dec ‘11) - died• Startup Act 2.0 (May ‘12) - died• Startup Act 3.0 – 2% chance• Comprehensive Immigration

Reform – opposed by House

Political solutions?

Source: GovTrack.us - http://www.wipo.int/ipstats/en/statistics/patents/

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PROBLEM

Startup entrepre-

neur kicked

out of US due to

visa issues

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PROBLEMStartup

kicked out of US

due to visa

issues

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PROBLEMStartup

entrepre-neur

kicked out of US due

to visa issues

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Visa restrictions

make it hard to work as an

entrepreneur in

Silicon Valley.

What can

we do?

Think outside the box.Look to the left.

Image credit: siliconvalley.com

PROBLEM

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12 miles

International waters line

Ship located 12 miles offshore,in international waters,

outside US jurisdiction – Bahamas flag

1

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Convert the cruise shipto a live/work/play space for 1000

2

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30 minutes to shore 20 minutes to Palo Alto

Convenient travel both waysby ferry, helicopter

3

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Use B1/B2 business/tourist visato travel to mainland & stay <180 days

H-1B (skilled worker)

L-1 (intracompany transfer)

B1/B2 (business/tourism)

0500,000

1,000,0001,500,0002,000,0002,500,0003,000,0003,500,0004,000,000

Average # of U.S. visas granted per year, 2006-2011

Source: http://www.travel.state.gov/xls/FYs97-11_NIVDetailTable.xls

OFFER

4

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Streamlined customs checkpoint – e.g. “Global Entry”

5

• U.S. Customs and Border Protection (CBP) program• For frequent low-risk travelers• Enter the U.S. by using automated kiosks

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30 minutesby ferry

SOLUTION

Business/Tourist Visa:• can travel to US, 180 days/yr• can attend meetings, events• streamlined border entryBahamas flagged ship:

• can earn income, start companies• streamlined regulatory environment

Work on the ship, in international watersTravel to the US using business/tourist visas, which are easier to obtain

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Where are we right now?

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Press from A to Z(working on Qz and Xconomy)

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Startups that expressed interestLatest stats at blueseed.co/come-aboard/results

1516 entrepreneurs

496 startups

72 countries

United States 23%

India 10%

Canada 4%

Australia 4%

Russia 2%Italy 2%UK 6%Spain 3%Brazil 3%

France 3%

Germany 2%

China 2%

Singapore 1%

Other 34%

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Motivations for moving to Blueseed  Not important Somewhat important Important Very important Critical

An alternative to having to get US work visas for myself or other company

founders25.7% 16.0% 17.8% 18.8% 21.7%

An alternative to having to get US work visas for my employees

26.3% 21.9% 21.7% 18.4% 11.7%

Streamlined legal and regulatory environment made with low overhead in

mind7.5% 13.4% 26.5% 28.1% 24.5%

Ease of finding talent 6.3% 14.0% 22.5% 30.8% 26.5%

Proximity to Silicon Valley's investors 3.4% 10.5% 19.2% 30.8% 36.0%

Living and working in an awesome startup- and technology- oriented

space1.0% 2.8% 10.9% 30.0% 55.3%

Coolness factor / fame 14.2% 16.0% 24.3% 22.5% 23.1%

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Top motivation for moving to Blueseed

“Living and working in an awesome startup- and technology- oriented space”

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High-tech university dorm

24/7 hackathon & coworking space

Awesome startup- and technology-oriented space

The Blueseed formula SOLUTION

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Live/work/play environment onboard:“Googleplex of the Sea”

OFFER

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Cabins for different budgetsOFFER

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OFFER

Customizable office space

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Recreational facilities OFFER

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24/7 food/medical/securityOFFER

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Wireless 1Gbps+ link to shore

Liquid Robotics ocean drone relays mesh networkO3b satellite backup,130ms round-trip, 500Mbps

Future: fiber-optic cable

OFFER

High-speed Internet access

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Transportation to/from the mainland• Large capacity round-trip ferry boats, morning and evening• ~30 minutes from ship to shore

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When time is critical, helicopters• Medical or other emergencies• ~20 minutes to Palo Alto

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Shared equipment:

3D printers etc

GymsPool

Sports fields

Entertainment venues

Convenience stores Game rooms Post Office

ATMs

Cafes Food service Concierge

OFFER

Amenities onboard

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Accelerator programs

300 startups on the ship means…

…multiple cohorts in parallel

…variable-length programs, e.g.

• 3 months for web startups• 6 months for biotech or robotics companies

OFFER

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Startup accelerator services

Connection with Silicon Valley

startup events

Access to angel investors and

venture capital

Networking activities

Mentors and training

programs

Legal help: immigration,

IP/patents etc.

Events onboard + more…

OFFER

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No visas or immigration restrictions

Much lower regulatory costs – you choose where to incorporate

Simplified business and regulatory environment

Bring into your team talent from anywhere in the world

No stressful commuting, no traffic

“Perpetual hackathon” atmosphere

You’ll be in the middle of cutting-edge innovation

SOLUTION

Benefits of being aboard Blueseed

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Backup plans

Source: http://online.wsj.com/article/SB10001424053111903480904576512250915629460.html

OFFER

When moving to Blueseed, you’ll deposit an amount to cover transportation to your country of choice

Q: Did your startup fail?A: The startup in the next cabin is probably hiring.

“[in Silicon Valley] every company I work with is absolutely starved for talent: qualified software engineers, managers, marketers and salespeople”- Marc Andreessen, August 2011, Wall Street Journal

83% of the tech startups in the U.S. are looking to hire in 2012. – Silicon Valley Bank survey

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Cost of living aboard Blueseed (preliminary estimates; Blueseed doesn’t impose tax)

•More cash + less equity, or

•Less cash + more equity

Combination of rent + startup equity

Cash rent: from $1200/person/month (shared room for 4)

Up to $3000/person/month (private room with ocean view)

•San Francisco rent (May 2013): $2,211/mo

•Plus desk at startup incubator: $500+/mo.

Cost includes office space!

OFFER

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Blueseed’s interests are aligned with yours

Blueseed taking equity in

startups

We succeed if you succeed

OFFER

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How we’ll work to reduce your rent (extra revenue streams)

•Shows like “Shark Tank” can bring significant revenue

Media

•Offices aboard for big companies looking to hire brilliant entrepreneurs like you

Talent scouting

•Since 2009, Google has been acquiring one new company per week. We’ll own equity in startups onboard, and cash in on exits.

Early acquisition of startups

•Rent out space for events, conferences etc.

•Hotel rooms for visitors

•Other partnerships enhancing the ecosystem

We’ll be a unique environment

OFFER

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Visas you’ll need

To live and work aboard Blueseed: no visa

To travel to the U.S. mainland:• business visa (B-1), or• tourist visa (B-2; often combined with B-1), or• Visa Waiver (some countries, valid only 3 months), or• transit visa (least recommended)

B1/B2 visas generally valid for 10 years

Must spend at most 180 days/year in the U.S.

Americans (e.g. investors) visit Blueseed freely

OFFER

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Ease of getting business/tourist visa vs. work visa

H-1B (skilled worker)

L-1 (intracompany transfer)

B1/B2 (business/tourism)

0500,000

1,000,0001,500,0002,000,0002,500,0003,000,0003,500,0004,000,000

Average # of U.S. visas granted per year, 2006-2011

Source: http://www.travel.state.gov/xls/FYs97-11_NIVDetailTable.xls

OFFER

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What laws apply on board?

•Bahamas (English common law)

The laws of the flag state

•Fair, efficient, speedy, predictable

•You choose what country to incorporate in

International commercial arbitration

•To country of residence/incorporation

•No taxes paid to Blueseed

Taxes

•International patents (WIPO)

•United States patents (USPTO)

Patents – as usual

OFFER

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FAQ – blueseed.com/faq

•Not a problem: large vessel (200m x 30m)

•Meclizine - inexpensive preventative medication

Seasickness

•Tsunamis/earthquakes doesn’t affect ships at sea

•Hurricanes don’t exist near California

Tsunamis,Hurricanes

•Happen rarely; affect large vessels less

•In case of “force majeure”, we can come to shore

Storms

•We’re the only ones in the region :)

Pirates :)

OFFER

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When will Blueseed launch?

Estimated: Q1 2015

R&D we’re conducting – your help is welcome:• Startup incubators – partner with us!• Media exposure – the more, the merrier• Cleantech companies – get in touch• Ambassadors – spread the word!

If you can help – contact us: blueseed.com

OFFER

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BlueseedLos Angeles

BlueseedEast Coast

Near future

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Long term vision

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Concept ship – Terraces

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Concept ship – Artful Containers

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Concept ship – Hive

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Blueseed Atoll concept – stabilization barges and floating breakwaters

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Concept ship – Modern Hull

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How can you come aboard?

• Investor• Startup network – see blueseed.com/partners• Trusted contact – make a profile on AngelList

Get referred by a reputable:

• Be awesome – apply online – get selected!

Or directly:

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Dario MutabdzijaCEO

Dan DascalescuCTO/COO

Baoguang ZhaiBus. Dev.

+partners…advisors…mentors…

ambassadors…

YOU!

TheBlueseed

Team

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Apply online

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Want to be a partner?

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“The people who are crazy enough to think they can change the world, are the ones who do.”

-- Steve Jobs, 1955-2011

[email protected]