Pentagon Mobilized to Support Tech Startups After Bank Failure
Posted on AllSides March 23rd, 2023
From The Center
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?
Officials prepared different courses of action to get cash to companies, if needed.
“It was a busy weekend, for sure,” Michael Madsen, acting director of the organization that acts as conduit between startups...