I have been thinking about the same thing, and I agree with the benefits you have stated. In my part of the world (Sweden) we have two market places for quite

I have been thinking about the same thing, and I agree with the benefits you have stated. In my part of the world (Sweden) we have two market places for quite small companies, Nasdaq First North and Akitetorget. Akitetorget is somewhat strange, I think it is formally not regulated as a stock market, and that the companies listed there does not need to be "publicly listed". Like the grey markets for non-public companies I've read about, but perhaps less grey. First North however is a "real" stock market that works the same way as its big brother Nasdaq OMX, but with lesser demands and cheeper entry. Still, even First North is probably to expensive to list a startup right at incorporation. I think the biggest hurdle to overcome is to balance the requirements of public disclosure and quarterly reports etc. with cost of listing. If almost no requirements would be set, it would be very cheap to list but also very hard to safely trade on the exchange (alá ICO's). On the other hand, with too stringent requirements it would be too expensive to list as an early stage startup.