In the wake of the recent collapse of the infrastructure provider, SVB, the Minister of State for Information Technology, Mr. Rajeev Chandrasekhar, is set to meet with start-ups to assess the impact of the event. The meeting, which is scheduled to take place in the coming days, will bring together representatives from various start-ups across the country.
SVB, which was one of the leading providers of IT infrastructure in the country, recently announced that it was shutting down its operations due to financial difficulties. The move has sent shockwaves across the industry, with many start-ups left in the lurch and struggling to find alternative solutions.
In light of this situation, Mr. Chandrasekhar has taken it upon himself to assess the impact of the collapse on start-ups across the country. The meeting with start-up representatives is expected to provide the Minister with first-hand insights into the challenges faced by these companies, and help him identify ways in which the government can support them.
Speaking about the meeting, Mr. Chandrasekhar said, “The collapse of SVB has had a significant impact on the start-up ecosystem in the country, and it is important that we understand the full extent of this impact. Through this meeting, I hope to hear directly from start-ups about their experiences and challenges, and identify ways in which we can support them through this difficult time.”
The Minister’s decision to engage with start-ups directly has been welcomed by the industry. Many start-up founders and leaders have expressed their gratitude for the government’s efforts to support them during this crisis.
The meeting with start-up representatives is just one of several steps being taken by the government to support the start-up ecosystem in the country. Earlier this month, the government announced a new scheme to provide funding and support to start-ups in the wake of the SVB collapse.
As the start-up ecosystem in the country continues to grow, it is important that the government takes steps to support these companies and help them overcome the challenges they face. The meeting with start-up representatives is a positive step in this direction, and one that is sure to have a significant impact on the industry.