Silicon Valley Bank startups
“Since attending the Life is Beautiful festival last October, my team and I have been to Las Vegas at least six times to meet with entrepreneurs, clients, key service providers and other influencers, ” said Dax Williamson, Managing Director, SW Region, at Silicon Valley Bank. “Each time, I am impressed by the evolution and growth I’ve seen with the Downtown project, as well as increased connectedness with the broader innovation ecosystem across the city. There is a maturing of the ecosystem that is happening, which will help entrepreneurs and early growth companies scale their companies faster. The streamlining and elimination of inefficiencies within the ecosystem will be key in helping the city become better positioned to compete with larger tech ecosystems across the country.”
Dax Williamson says there are 3 key differentiators of Silicon Valley Bank, each of which reinforces the other.
“First, is that we are the only global financial institution that is exclusively focused on serving the of the innovation economy. This is important, because we don’t cycle in and out of the tech sector, as the economy fluctuates, but are fully committed, ” he said.
“Second, is that by not only banking about 15, 000 technology companies globally, we also support about 700 venture and private equity funds. In this way, we sit at the intersection of ideas and capital, ” he continued. “Last, is our ability to scale with companies as they grow and truly serve as their financial partner beginning at inception all the way through their exit and beyond.”
Beyond capital, Silicon Valley Bank helps entrepreneurs with connections and counsel.
“I tend to describe it as the “three c’s”…capital, connections and counsel. In many ways, capital is a commodity, ” Dax Williamson said. “While SVB has pioneered unique lending models over the years, competitors eventually try to replicate what we do. Competitor’s lending methodologies can adapt over time, but it is much harder to match our deep network and 30+ years of experience focused solely on the innovation sectors.”
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Q&A
What services does Silicon Valley Bank provide for startups beyond what leading national banks (Chase, Citi, BofA) provide? - Quora
Most banks, including Silicon Valley Bank and leading national banks (i.e. Chase, Citi, BofA and Wells), have a similar products and services offering, especially when it comes to start-ups. Reason being, start-ups don’t require much more than: a basic checking account to deposit and withdraw funds, a money market account with some yield, online
What are some of the best tech startup scenes outside of Silicon Valley? - Quora
I would say that New York is rapidly growing in this area as can be seen with the recent explosion of entrepreneur meet-up groups, the movement of large VCs into the NYC area and the emergence of more and more incubators.
That said, DC has always been a hotbed for IT given the large government presence and its constant need for new
