Pentagon Mobilized to Support Tech Startups After Bank Failure
Customers line up outside Silicon Valley Bank in Wellesley, Massachusetts, on March 13, 2023, three days after the bank collapsed. David L. Ryan/The Boston Globe via Getty Images
Marcus Weisgerber and Patrick Tucker
In the hours after Silicon Valley Bank collapsed on March 10, Pentagon officials who work directly with startups that develop national-security technologies grew increasingly concerned.
Would startups that had money in the bank need to stop work? If that happened, would there be supply-chain disruptions? Would a company under financial stress put its intellectual property at risk?
“It was a busy weekend, for sure,” Michael Madsen, acting director of the organization that acts as conduit between startups and the military, said Tuesday at a Reagan Institute event in Washington.
