Palo Alto, CA, July 15, 2013 — In light of last week’s major developments within the U.S. House of Representatives and U.S. Securities and Exchange Commission, Blueseed is announcing reaching a new milestone towards launching its startup ship for entrepreneurs – receiving the first investment from the first group of angel investors focused on the digital currency Bitcoin.
Last week, the House Republican Conference strongly opposed the Comprehensive Immigration Reform bill passed by the Senate, which among its 1198 pages included a section for granting an “INVEST” visa to international startup entrepreneurs. This development is unfortunately detrimental to the chances of a startup visa being enacted. Blueseed represents a viable, entrepreneurial alternative to this political problem.
Last week as well, the SEC announced that it will be lifting the ban on general solicitation, an 80-year old measure that has been preventing startups from publicly disclosing their ongoing fundraising campaigns. Blueseed will be able to take advantage of the opportunity to publicly announce its next fundraising round once the new provision becomes effective, in order to raise the amounts needed to launch the community.
Blueseed is also proud to announce receiving the first investment from Bit Angels, the first Bitcoin angel investors group. The group’s goal is fostering the growth of startups that promote Bitcoin, the decentralized digital currency. The Bit Angels regard Blueseed as an upcoming Bitcoin-friendly jurisdiction, with a streamlined legal and regulatory system, accelerating the growth of the Bitcoin ecosystem. In another first, Blueseed has received one investor’s contribution directly in Bitcoins. Leading the Bitcoin round was Jered Kenna, co-founder of Tradehill, the largest Bitcoin exchange in the U.S.
Blueseed is a live/work/play startup community for 1000 entrepreneurs, on a cruise ship to be stationed 30 minutes by ferry from the coast of Silicon Valley.
The location is in international waters, outside U.S. jurisdiction, and allows entrepreneurs from anywhere in the world to start or scale their companies without needing U.S. work visas. Instead, easier-to-obtain B1/B2 business/travel visas will be used to arrive on Blueseed and to visit the mainland in order to connect with the Silicon Valley ecosystem.
Blueseed creates a new class of real-estate – technology-enhanced and ocean-based – and differentiates from existing business accelerators by creating an entire ecosystem (mentors, talent pool, investors, service providers etc.), and enabling a very close-knit community, modelled after university campuses. So far, with no dollars spent on marketing, over 1300 entrepreneurs from 400 startups in 66 countries have expressed interest.
Bitcoin is the new digital currency that enables instant and worldwide peer-to-peer transactions, with low or zero processing fees, and without a central issuing bank. Bitcoin has the potential to radically disrupt payments, banking and financial institutions as we know them. Blueseed, with its international, entrepreneurial, innovative and disruptive character, is a natural fit for Bitcoin.