Blueseed Seasteading has a new tighter budget and a second quarter of 2014 launch

Blueseed will station a ship 12 nautical miles from the coast of San Francisco, in international waters. The location will allow startup entrepreneurs from anywhere in the world to start or grow their company near Silicon Valley, without the need for a U.S. work visa. The ship will be converted into a coworking and co-living space, and will have high-speed Internet access and daily transportation to the mainland via ferry boat. So far, over 1000 entrepreneurs from 60+ countries expressed interest in living on the ship.

* Comfortable living quarters accommodating one to four individuals per room
* Catering and food services at cafes and 24-hour venues around the ship
* Recreational facilities including a full service gym, game rooms, and other entertainment venues
* A comfortable and inspiring environment enriched by international experiences and lifestyles

Blueseed is now trying to lease a ship and not buy one. They are looking to raise $27 million instead of $50 million.

The majority of the startup companies hosted by Blueseed will create new high-paying jobs. These jobs would otherwise exist either outside the U.S. or, in many cases, not at all, because federal immigration restrictions make it very difficult for foreign startups to locate in the U.S. A startup at the stage of relocating to Blueseed has an average of 4 employees. At the next stage (1-2 years later), a successful startup will have an average of 17 employees (source). As Blueseed startups continue to grow beyond those stages, since there is only so much space on the ship, successful startups will relocate entirely into Silicon Valley, where they will have established strong business relationships during their Blueseed incubation and early growth period. If only one of these startups becomes highly successful, it will create hundreds, thousands, or tens of thousands of jobs.

Blueseed will be increasing the H1B class individuals

Michio Kaku makes the case for H1B.

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