Silicon Valley Bank's collapse has, so far, served primarily to raise questions about banking regulations and macroeconomics. But at a moment when America's lead in the global race for innovation is at risk of shrinking – China's top-down system is gaining steam on our bottom-up approach – we can't let SVB's unique role supporting new companies go unfilled. There is real danger that we let the focus on SVB's collapse obscure the critical role it played for start-ups and entrepreneurs. Those who have an interest in nurturing U.S. innovation – including, venture capitalists and regulators – must quickly figure out how to continue supporting our start-up community.

SVB wasn't exclusive to Silicon Valley – it had branches in Georgia, Illinois, Pennsylvania, Arizona and nearly a dozen other states – and it banked not just tech companies, but nearly half of the nation's start-ups. In its core banking business, SVB's loan book had losses estimated at less than 1 percent of a $74 billion portfolio. And despite making poor investment decisions with its excess liquidity, it was, for many start-ups, essential to growth.

For decades, policymakers across the globe have looked to Silicon Valley to understand, and replicate, its secret sauce. But there was no single magical ingredient. Hubs of innovation boast a suite of crucial inputs – ideas, talent, culture, expertise and, of course, financing. In absence of an institution playing that finance role, future generations of U.S. innovators may see their wings clipped before even leaving the nest.

Some may argue that tomorrow's founders should just do what other small businesses do when they need a loan – apply to a traditional bank. But national and midsize banks often don't understand the unique business model of a start-up and tend to require collateral ahead of approving a borrower. SVB often stepped in when a business had a good idea and good backing. U.S. entrepreneurs cannot drive the economy forward if they're not able to finance their endeavors. And the effects will ripple through the economy, claiming jobs and prosperity alike.

There's another risk. SVB's commitment to the entrepreneurial ecosystem compelled its employees to take meetings with founders, learn about their plans and develop relationships that other banks would likely not take the time to nurture. That broader network opened doors for founders beyond the traditional profile, those who hadn't gone to Stanford, or spent time at Google or Amazon, or built a history with a big bank's private wealth manager. As a result, SVB became an important gateway for female founders, minority founders and entrepreneurs from corners of the country that don't see a lot of venture capital.

For the time being, venture firms like ours should return some capital to SVB, demonstrating our support for continued access to capital for young start-ups that have limited options. Beyond that, we need to acknowledge the validity of public concerns that our industry is less interested in widespread prosperity than our own interests. That means doing the hard work of making real investments in entrepreneurs outside of California, New York City and Massachusetts. Having flown this "rise of the rest" flag for years, I suspect many of my colleagues will discover a wealth of overlooked entrepreneurs deserving of our collective time, attention and investment.

Finally, government and the private sector should establish a National Entrepreneurship Strategy, similar to an effort I'm helping to lead as co-chair of the National Advisory Council on Innovation and Entrepreneurship. We need to work collaboratively to identify the industries of the future, support regional hubs and lean into a more inclusive innovation economy. Those efforts will be hobbled if the role SVB has long played is left forever fallow. And so, in looking at what comes next for SVB, we must consider what preserves the greater good, whether that means leaving it to remain independent with the backing of new investors, or as a nonprofit community bank for start-ups, or perhaps as part of a regional bank that can keep it agile.

Congress is right to investigate the recent run on SVB, and we should all learn from those mistakes and hold the proper figures accountable. But we can't let anger or zeal obscure the ripple effect of the recent crisis. Start-ups are responsible for nearly all net new job creation in the United States. The country's continued prosperity depends largely on the community SVB served better than anyone to date. Whatever else we do, we can't afford to stop fueling the fire of innovation.

Steve Case, a co-founder of AOL, is chairman and chief executive of Revolution, a D.C.-based venture-capital firm, and author of "The Rise of the Rest: How Entrepreneurs in Surprising Places are Building the New American Dream."