Could “Silicon Valley” become its own U.S. state?

That’s what a ballot measure, approved this week for signature gathering, is seeking to do. That, and carve out five other regions of California into their own independent U.S. states — with their own laws, politicians and capitols.

The idea was pitched by venture capitalist Tim Draper, who is now expected to throw his money toward collecting the 807,615 signatures required to put the plan before voters. He has until July 18.

That’s not the only hurdle. Not only would California voters have to approve the initiative, so would Congress.

Then there’s the messy task of splitting up California’s regional assets and liabilities between the new states (think water, bridges, sports teams) as well as setting up brand new governments (new laws, electoral systems, etc.).

But Draper, who spoke to ABC News on Wednesday, claimed that the benefits of smaller government and a less unwieldy California would be worth the hassle.

“California, as it is, is ungovernable,” he said. “It is more and more difficult for Sacramento to keep up with the social issues from the various regions of California. With six Californias, people will be closer to their state governments, and states can get a refresh.”

Under Draper’s plan, San Francisco, Oakland and San Jose would be part of the state of Silicon Valley, which would extend to Santa Cruz and Monterey counties. It would be the wealthiest, and likely most politically liberal, of the new states.

San Diego and Orange County, meanwhile, would comprise South California. Los Angeles and Santa Barbara would make up West California. Fresno and the San Joaquin Valley would be Central California. Marin, Sonoma and the greater Sacramento area would make up North California. And a bunch of rural counties in far northern California would make up Jefferson.

Secretary of State Debra Bowen, who approved the measure for circulation, wrote: “If the federal government approves the proposed creation of six new states, all tax collections and spending by the existing State of California would end … Decisions by appointed commissioners and elected leaders would determine how taxes, public spending, and other public policies would change for the new states and their local governments.”