How to find early developers, from a geographically distant location?

We're a new startup, based in a developing country. There are some good developers geographically close to us, but they're in very high demand and mostly taken by the existing big companies, and the rest of the developers are just not up to our standards, and won't be capable of delivering the quality product we require, or have already moved to other countries.

I've read through loads of answers on OnStartups on how to attract developers in a new startup, and I believe we can provide most of those things. Finding a good developer, however, is proving difficult: we have to look outside our own country.

Very few people will consider moving here, and that isn't a requirement. For now, developing in geographically separate locations will be fine, but to a large extent it removes a lot of the advantages we can offer as a startup, such as a great environment, team-spirit, shared vision, and so on.

We are funded. We can offer a basic salary, along with vested stock/profits. How do we go about finding the right people to join us at this early stage? As a still very small startup, how do we reach them?

I actually have this issue in the US. We have recently been hiring very smart, eager, passionate college graduates and assume they are going to need 6 months or so of pair programming, mentoring and training.

So, they don't hit the ground running but assuming they received good grades in their undergraduate studies at a good University then starting to cultivate your own great developers is your best bet.

Don't hire people who have been developing for awhile and are mediocre, hire smart, eager people that fit your culture and they'll probably surprise you how fast they learn with some hands on training.