the fallout from the collapse of silicon valley bank svb is beginning to spread around the worldstartup founders in californias bay area are panicking about access to money and paying employees fears of contagion have reached canada india and china in the uk svbs unit is set to be declared insolvent has already ceased trading and is no longer taking new customers on saturday the leaders of roughly 180 tech companies sent a letter calling on uk chancellor jeremy hunt to intervenethe loss of deposits has the potential to cripple the sector and set the ecosystem back 20 years they said in the letter seen by bloombergread alsoexplained why did silicon valley bank fail whats next will it impact indian startupsnew delhi the sudden collapse of silicon valley bank on friday sent shockwaves through the startup community which has come to view themany businesses will be sent into involuntary liquidation overnightthis is just the beginning svb had branches in china denmark germany india israel and sweden too founders are warning that the banks failure could wipe out startups around the world without government intervention svbs joint venture in china spd silicon valley bank co was seeking to calm local clients overnight by reminding them that operations have been independent and stable0112us startups cant get money from silicon valley bank amid financial troublesthis crisis will start on monday and so we call on you to prevent it now uk startup founders and chief executive officers said in the letter to hunt the companies listed in the letter include uncapped apian pockit and pivotal earthhunt spoke with the governor of the bank of england about the situation on saturday morning and the economic secretary to the treasury was holding a roundtable with affected firms later in the day the treasury saidunderscoring the challenge governments face in getting a handle of the full extent of the fallout the uk treasury has begun canvassing startups asking how much they have on deposit their approximate cash burn and their access to banking facilities at svb and beyond two people familiar with the matter said asking not to be identified because the information isnt public treasury declined to comment on the surveyfounders were anxiously awaiting the outcome of the roundtable and any information about how their deposits at the bank would be handled toby mather ceo of ukbased education software startup lingumi has 85 of his companys cash in svb he tried to transfer some of his accounts but as of saturday evening he wasnt sure whether that worked this is life or death for us he said these things seemed so mundane beforejack omeara founder of the london genomics startup ochre bio spent the weekend trying unsuccessfully to move deposits out of svb if there is no intervention he said it could really wipe out a generation of entrepreneurial companiesas in the us some svb deposits in the uk are insured but it was unclear when those funds would be available a deeper concern among