Close

July 13, 2010

Sink or Swim 2010 Business Contest

Press Release

The Seasteading Institute Launches "Sink Or Swim", the First Seasteading Business Plan Competition

Contest Invites Entrepreneurs to Explore Business Opportunities in the Ocean

July 5th, 2010 – The Seasteading Institute, together with HumanIPO and Premium Advice are proud to announce Sink or Swim, the first seasteading business plan competition. Draft submissions will be accepted until Oct 8th, 2010. With prizes of $5,000, this contest aims to inspire innovative entrepreneurs from around the world to create business plans that would succeed aboard a politically autonomous ocean platform. These "seasteads" will be homesteads on the high seas — in other words, permanent dwellings on the ocean. A seastead is a structure specifically designed for the purpose of long-term living in a marine environment.

New business ventures have a lot to gain from locating in a legal and regulatory environment customized to their needs and catering to their bottom line. We’ve seen examples of this in the meteoric growth of Hong Kong and Singapore, and seasteading promises to open the frontiers of commerce even further. Sink or Swim challenges contestants to overcome what obstacles may arise and calls upon these contestants to think outside the traditional bounds of a business plan in considering the legal, political, and economic benefits of doing business on the ocean.

“For seasteading to succeed and grow sustainably, it must produce value and attract a community of entrepreneurs and investors" stated Patri Friedman, TSI’s Executive Director. "This contest will demonstrate the wide variety of businesses which can be beneficially located on a seastead.”

The first place winner will be awarded $2,500, and a further $2,500 will be awarded among winners in the other prize categories. Winners will also receive exposure to potential investors and invitations to join The Commercial Seasteading Network.

For more information, including rules and how to enter, click here, or contact us at sinkorswim@seasteading.org for any questions.

About The Seasteading Institute

The Seasteading Institute, based in Sunnyvale, CA, is a nonprofit corporation that is in the process of applying for recognition of tax exemption under Section 501(c)3 of the Internal Revenue Code. TSI’s mission is to establish permanent, autonomous ocean communities to enable experimentation and innovation with diverse social, political, and legal systems.

————–