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SETsquared statement: HSBC acquisition of Silicon Valley Bank

The SETsquared Partnership is pleased to see HSBC’s acquisition of the UK arm of the Silicon Valley Bank, thanks to the swift action of the Government and the Bank of England over the weekend.

The news has understandably brought relief across the communities of tech start-ups, spin-outs and scale-ups that we support.

Prior to this morning’s news, we had been working closely with our peer organisations, investors, and professional service partners to gather information and resources which could support our member companies and to ensure the voice of our founders was heard.

If any of our member companies are still experiencing any issues, challenges, or worries, please do get in touch with your local business acceleration centre, tech transfer office, or student enterprise officer or email [email protected]

We want to understand the effect on our community and have prepared a short survey of just six questions.

Complete the member survey

 

We’re currently developing a webinar to take place next week, which will bring together a panel of legal and financial experts to provide founders with further practical advice on managing financial risk – more details to follow shortly.

Marty Reid,
Interim Executive Director, SETsquared Partnership

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