On March 10, 2023, U.S. regulators shut down Silicon Valley Bank as liquidity dried up, and bank deposits were taken over by the FDIC.
Silicon Valley Bank is one of the most startup- and entrepreneur-friendly banks in the world. The bank closure incident has made a certain impact on many technology start-ups around the world. In order to help the affected engineering companies overcome the difficulties, WELSIM announced that it will provide one-year free commercial use for the enterprises that suffered losses in this financial incident. Effective today. Applicants only need to prove that they have assets of no less than $360 in Silicon Valley Bank.
With this move, we hope to help start-ups that need engineering simulation software.
WELSIM has no affiliation with Silicon Valley Bank.
WELSIM reserves the right to the final interpretation of this event.