Singapore – Southeast Asia’s start-up epicentre – is fortunate in that only a limited number of companies have felt the direct impact of SVB’s collapse. Regardless of their links to SVB, Singapore’s start-up community should see the bank’s collapse as a wake-up call to ensure their own safety, contingency plans and long-term survival.
This week, the technology industry breathed a sigh of relief when the United States government intervened to rescue US$342 billion in deposits held by Silicon Valley Bank (SVB).
However, with US$465 billion being wiped off global financial stocks this week, repercussions will be felt by those directly hit by SVB’s collapse and the wider start-up community across Southeast Asia.
