Creating virtual startup incubator for e-Residents
Are you an e-Resident? Have you ever thought about developing your startup idea into a successful company? Then, please fill in this survey to bring virtual startup incubation on e-Residency platform closer!
Your ideas are very important for creating a service that you will be happy with.
The survey should take less than 10 min of your time: http://bit.ly/1oOT8Gj
Good objectives! Keep it up and let me know if I can be of any help! Cheers Lyn
Thank you for encouragement, Lynwood!
Likewise, am very interested in supporting this and perhaps tying this to physical incubators in different parts of the world (which will develop good synergies)
Lynwood Sewell Bell
Ravi, I agree there should be much greater flexibility to start a new innovative company anywhere in the world where it makes sense.
To do otherwise will put that start-up in a less competitive position in a digital world that is already totally international. Countries like Estonia and Anguilla have tremendous opportunities to be global as demonstrated by e-residency. No corporate income tax is another serious advantage. We also have no personal income tax in Anguilla.
Some of the impediments to be improved upon or overcome include: traditional parochialism; domestic start-up capital; better understanding of administrative/fiscal/legislative arbitrage between nations; learning how to collaborate at a distance like we are doing on the eResNetwork; and .... trust.
@Ravi-Srinivasan Thank you for the feedback! Could you elaborate on trying this to physical incubators in different countries? Do you see the ways for many incubators to participate in one service? How would it work for 100 incubators for instance (I mean, competition for the ideas would be fierce)?
That is why I am thinking mostly about Estonian incubators. The common virtual infrastructure also plays a role.
Ravi and Bilyk,
The ideas surrounding incubators and accelerators date back to pre Dot.Com Bubble days and it proved to be a tough approach then as well. Having the energy and expertise to mentor a bunch of start-ups is taxing and I would personally not want to create such a business.
However, I do see a surge of angel capital forums which will solve parts of the development process .. for example - funding, due diligence, legal disciple, etc. ... but suggesting that all of that can be bundled into a deliverable-package-offering is probably reserved for the Garage48 hackathon teams, the Eric Reis authors, etc.
Meanwhile, and resonating with the "virtual startup theme" ... I do think we can bundle together a lot of "best practices" and sources of help within the e-residency framework. For example ... everybody can already have an inexpensive Anguillian "Certificate of Intellectual Property" for their business without setting foot on the island!
Separately, I am collaborating with some of the 21 resident folks from the "Copenhagen Next" who have created a wonderful "incubator" living environment there. We are hopeful of creating a similar "Nest" in Anguilla.
I'm a newbie e-resident and I'm reading good news, positive mood and thinking.
I'll fill the survey as soon as possible, cause I'm interested at the virtual incubation!
It regard only intangible projects as software or also physical products ?
Hi Giorgio and welcome to the eResNetwork and your e-residency!
As I have suggested in earlier messages and topics, our Anguilla .ai Incubator Inc. is preparing to fund the capital requirements of a package of essential services for qualifying start-ups which choose Anguilla as their nexus for their global (or rest of world) business. I say "rest of world" because a company already in Estonia or wanting to be there for access to the technical talent, may want to do all EU business from there .. but may want to operate from Anguilla for "rest of world" business.
The package and the process are designed to ensure that such businesses conform to new OECD BEPS regulations including transparency, substance, ‘mind & management’, beneficial ownership, ‘economic purpose’ in order to achieve substantial treaty advantages, certainty of identity, location of transactions, due diligence and zero income and capital gains tax.
The package will include:
- an Anguilla and/or an Estonian company including local directors,
- offices, suitably equipped and administrative services including telephone and @anguilla-counts email
- an Anguilla .ai domain name,
- a payment processing merchant account and bank account,
- Web site hosting in Anguilla for certainty of ‘four-factor’ transaction location
- a Certificate of Intellectual Property Residence (CIPR)
… together with adequate crowdfinanced napkin capital to facilitate all of the above
Due diligence, proof of identity and regulations concerning anti-money laundering, terrorist financing and politically exposed persons have all become increasingly important internationally. The Estonian e-residency card goes a long way toward such due diligence and is an excellent asset to obtain at such a nominal cost.
I will ask our legal colleagues under the Tax posts whether or not dividends from an Anguillian (controlled foreign company) or subsidiary can be paid into the Estonian parent company without precipitating income tax until those dividends are paid out to the Estonian shareholders. I suspect this to be the case and it might mean that VAT could be avoided for all "rest of world' business done through Anguilla.
More as we get some answers and I expect this to be a hot topic at Latitude59! Cheers, Lyn.
Sushant Shirish Chavan
I am currently heading the technology team of a start up at an incubator here in India. I would love to pitch in with my inputs and suggestion on how this virtual incubator can spread out.
Another venture which I cofounded is based in Germany and was being funded by an Incubator as well. There are certain learnings of being in an incubator that I can share.
Let me know how you would like to connect.
I am not sure I have anything profound to add to the discussion here and I am pleasantly and excitedly drained of any energy after the fantastic Tallinn e-gov and Latitude59 events ... plus our HyperCat Summit coming up this Monday evening in London!
I doubt that I will recover from all this activity until I get back to Anguilla in a week. A great many ideas are emerging and I will have a longer post on them later. Congratulation on all the interest you are all generating! Cheers, Lyn
I want to say that for the last 8 months I'm actively working on the similar idea. I have created a business and finance model of such an incubator, launched a prototype website, produced some pitching materials and now I am going to present this business project at the Istanbul Startup Event that will take place in October 6th-10th in Turkey.
I imagine an all-online virtual platform where all individuals/companies have equal chances to get funded if their businesses can convince people to invest. On the other hand, it will enable retail investors from all around the world to support them, interact with them "on the go" and have a clear profit making algorithm yet staying always on the safe side. A dynamic and secure marketplace with lots of advanced features and options. I plan to include the e-Residence to the project to ensure that the most essential part of it, security, will be taken care of by professionals.
I’m very interested in any communication about the project so if anyone feels like it’s a good idea to discuss it please do let me know.