- Entrepreneurs in Silicon Valley have a novel plan to start up an offshore facility to house start-up companies.
- The facility ‘Blue seed’ would be positioned 12 nautical miles from shore (technically outside of US borders) to avoid the need for visas. The facility would be a floating business incubator, being close enough to Silicon Valley to allow for travel for critical face to face meetings to take place.
- It is envisaged that people would live at the facility for 6 to 9 months to determine whether their start-up company is likely to gain traction before going through the effort of applying for US visas.
- The owners of Blueseed will profit by gaining a 6% share in any businesses to emerge from the facility and may have some level of control over the number of foreign entrepreneurs that can access the US market.
The initiative has had a warm reception from the US government. If a similar venture were to come to the UK there may be social disapproval concerning the provision of a mechanism to improve an entrepreneur’s chance of success during official visa processes. There may also be environmental impacts resulting from offshore facilities.