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- Newchip, an online accelerator promising to help startups, has filed for bankruptcy and is now facing insolvency amid employee and client discontent. Dozens of employees of the troubled organization staged a walkout on May 4, demanding that founder Andrew Ryan step down as CEO.
techcrunch.com/2023/05/19/this-austin-accelerator-made-big-claims-employee… - People also ask
Former Newchip employees told TechCrunch that the company “rarely issued refunds.” They also claimed that the company paid customers to remove negative reviews. Ryan disputes both of those claims. He said it was stated in the customer contract that refunds were not given, for example, when … See more
It isn’t just employees who say they were burned by Newchip. Andrew Goei, founder of PitchPages, a pitch deck and fundraising software … See more
Though the employee group has more recently gone public with their grievances, they make claims of mismanagement going back years, including the clawback of sales commissions and Ryan giving himself bonuses during monthly financial deficits. For example, … See more
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Newchip accelerator scam: Here's what I recommend to other …
WEBMay 19, 2023 · The recent collapse of Newchip, one of the world’s biggest accelerators, was a shock to the venture ecosystem. Bjorn Erik Hansen, founder and CEO at INTIEM, an …
WEBMay 2, 2024 · When the now-defunct Austin accelerator Newchip filed for bankruptcy, founders learned that warrants into their startups were being sold off.
WEBWe completed the interviews and were offered a spot in the next cohort of the Newchip accelerator. Really curious to hear honest feedback (good and bad) from other startup …
- Reviews: 13
WEBNewchip has failed to deliver any of their promises to the hundreds of startups that go through their course.
- Founded: Mar 25, 2005
WEBMay 25, 2023 · Questionable Marketing Claims. Newchip cited $2.25B in funding for graduates but few founders credited Newchip for their success. Success metrics …
WEBIt's come to my attention you are an Astralabs/Newchip shareholder and you are currently on a campaign to expose and take down Andrew Ryan—formerly known as Ryan …
WEBNewchip has a rating of 4.5 stars from 58 reviews, indicating that most customers are generally satisfied with their purchases. Reviewers satisfied with Newchip most …
Newchip Collapse: A Cautionary Tale About Startup …
WEBJun 15, 2023 · The harsh truth is that Newchip, despite boasting of helping its graduates bag $2.25B in funding, left many founders feeling short-changed. Some even went as far as to brand it a scam, a chilling …
WEBNewchip is a scam— as someone who has been getting screwed by them, I can share a little bit here.
Newchip’s bankruptcy serves as a cautionary tale to founders
WEB3 days ago · When Newchip, an online accelerator promising to help startups, filed for Chapter 11 bankruptcy in March 2023, it was revealed that the company had just $1.7 …
Newchip Accelerator Reviews - Read 230 Genuine Customer …
WEBNewchip Accelerator is rated 4.6 based on 230 reviews. Newchip Accelerator has collected 230 reviews with an average score of 4.64. There are 222 customers that Newchip …
Newchip accelerator goes bankrupt - this is how they tried
WEBMay 17, 2023 · In August 2022 I was approached by a sales manager from Newchip - an accelerator program claiming to have helped over 5000 startups globally. The sales guy …
REVIEWS: Newchip Accelerator - Hucksters
WEBIt's all just leading back to Ryan Rafols, who falsely claims to have founded and sold 4x companies (the real number is zero) avoid Newchip and Astralabs and Journey …
Is this startup accelerator a scam? | Hacker News
WEBBy all accounts, yes they are a SCAM. They may have good intentions, not sure. I talked to them, then talked to a "graduate" I happened to know. They will teach you basic stuff …
Newchip Enters Into Bankruptcy Liquidation - SiliconHills
WEBMay 13, 2023 · The Austin-based company rebranded as Astralabs, doing business as Newchip and Newchip Accelerator, filed for Chapter 11 bankruptcy reorganization on …
Austin startup accelerator Newchip collapses - Austin Business …
WEBMay 12, 2023 · Austin-based startup accelerator Newchip announced May 12 it is shutting down. "It's with a heavy heart that I announce the closure of Newchip today,” founder …
TechCrunch Minute: Newchip, Techstars and what happens …
WEBMay 6, 2024 · Building a company that helps startups is similarly difficult. That’s the takeaway from TechCrunch reporting on Techstars and Newchip. In the case of …
Have you gone through NewChip? Any thoughts? : …
WEBI think the general consensus around here if I remember other time people brought up NewChip was, if you have to pay, it’s essentially a scam. They reach out to practically …
Newchip CEO Andrew Ryan Accused of Sexual Harassment, …
WEBJun 13, 2023 · Insiders say Newchip’s Andrew Ryan duped clients, sexually harassed employees, and mismanaged the company. He says they’re staging a coup.
The Rise and Fall of Newchip Accelerator - Must Read - LinkedIn
WEBOne of the biggest startup accelerators is being liquidated. Was it a scam or just another failed startup? DC Palter wrote an excellent article on NewChip.
The Rise and Fall of Newchip Accelerator | by DC Palter ...
WEBMay 13, 2023 · Newchip rivaled Y-Combinator as one of the largest startup accelerators. But on May 11, it was ordered shut down by a bankruptcy judge amidst recriminations by …
Thoughts on Accelerators (Especially Newchip) - Indie Hackers
WEBOct 25, 2019 · A marketing person from Newchip has reached out and expressed interest in me/Lakebed joining their next accelerator cohort. They don't have any pricing on their …
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