IT Minister to meet start-ups to assess Silicon Valley Bank's collapse impact

Minister of State for Electronics and IT Rajeev Chandrasekhar will meet representatives of start-ups this week to assess the impact of their exposure to Silicon Valley Bank which was deeply entrenched in the tech startup ecosystem.

According to various industry players and experts, most Indian software-as-a-services startups with a presence in the US and firms linked to incubator Y Combinator are among entities that will feel the heat of the Silicon Valley Bank collapse but the impact is likely to be short-term.

"The SVB_Financial closure is certainly disrupting startups across the world. Startups are an imp part of NewIndia Economy. I will meet wth Indian Startups this week to understand impact on thm n how @narendramodi govt can help durng this crisis," Chandrasekhar tweeted on Sunday.

Also watch: No federal bailout for Silicon Valley Bank but working to help depositors: US Treasury Secretary