CA startup sees entrepreneur-ship as visa solution

Maritime experts say such an idea is feasible, but very costly.

“A good single point mooring costs in the millions of dollars but it could restrain a ship-shape vessel in quite severe storms and in deep water,” said Bil Stewart, CEO of Houston-based Stewart Technology Associates, an engineering consultancy specializing in offshore and marine structures.

“But it would be prudent if the vessel had its own propulsion if you had a Pacific hurricane come along,” Stewart added.

Blueseed’s idea has started gaining steam.

Silicon Valley investor Peter Thiel, a founder of PayPal, announced he would lead Blueseed’s financing search. Thiel has been a big supporter of “seasteads” _ self-ruling cities on the ocean _ and both Marty and Mutabdzija worked at the Seasteading Institute.

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

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.