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  2. This Austin accelerator made big claims; employees and …

     
  3. Newchip Enters Into Bankruptcy Liquidation - SiliconHills

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    How did newchip present its value?Three investors told The Daily Beast they were deeply concerned with how he presented the company’s value. Newchip took out warrants for every company it enrolled in the accelerator, meaning it had the option to purchase up to $250,000 of stock in that company within 10 years.
    What is newchip & how does it work?His company, Newchip, would focus on the founders excluded from bigger accelerators like Y Combinator and Tech Stars and teach them how to approach venture capitalists and angel investors—all in a six-month remote course. The investor was impressed—as a person of color, he had struggled to raise money for his own startup—and told Ryan he wanted in.
    Does newchip help startups raise money?Since 2019, Newchip has helped founders raise over $300 million with over 70% of their graduates successfully raising capital. Overall, this has led to a 17.5X higher fundraising success rate for their startups compared to startups not part of an accelerator network. More information about the Newchip Accelerator and how to apply can be found here.
    How did newchip start?Newchip initially started out, according to Silicon Hills News, “as an aggregator of top deals from various equity-based crowdfunding platforms,” and later evolved into its current accelerator model.
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