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If the Newchip Accelerator’s mentorship-focused, cohort-based entrepreneurial boot camp seems similar to other programs at first glance, founders should take a deeper look into its intensive curriculum, equity-free model, and fully-online structure. Since 2019, the program has gotten over 1,500 startups off the ground by helping them raise between 50,000 and 5 million dollars in capital, and new cohorts are signing up each month.
“We’re more interested in your team and traction than your funding stage,” says Andrew Ryan, NewChip’s founder and CEO. “We focus on startups that have not yet raised a significant Series A round and invest up to $250,000 into the top graduates who pass our due diligence.”
The NewChip accelerator’s curriculum sets itself apart from other programs through a number of differentiating factors, including offering three programs to founders:
- A pre-seed program for startups raising or scaling up to $1 million
- A series seed program for startups raising up to $5 million or scaling up to $3 million
- A Series A program for companies raising or scaling up to $10 million
Each of these programs contains in-depth modules that guide founders through every aspect of raising seed funding, conducting due diligence, making data-driven decisions, finding co-founders, and attracting top talent. The Newchip curriculum helps entrepreneurs with practical daily tasks such as building scalable teams, fundraising plans, pitch decks, affordable prototypes, data rooms, and investor funnels. Throughout the process, founders learn how to find investors, establish relationships, negotiate without giving up control, analyze their competitors, and create competitive road maps.
The Newchip accelerator offers a unique equity-free program
Accelerators provide startups with the vital training, mentorship, and investors they desperately need in the early stages of growing a company. In return for this assistance, they typically ask entrepreneurs to sign agreements relinquishing 5-10% of the company’s equity. Though 5% may seem minimal, experienced founders can attest that keeping equity during the early funding process means higher windfall when companies are acquired or go public.
For founders who prefer to retain control of their company, Newchip offers an equity-free pricing model that sets it apart from other accelerators.
“Our equity-free model differs from many accelerator programs,” says Ryan. “Founders who join Newchip cohorts pay tuition upfront. During the program or after a founder’s graduation, we often negotiate to invest. We stand by this model as being the friendliest and most fair to founders.”
An equity-free model means founders do not have to dilute equity before they get their footing. Newchip believes in building relationships before investing. “Whether we decide to invest in your company or not, participation in the program guarantees investor meetings and an offer from our network,” Ryan remarks. “A warrant option keeps our program equity-free and gives us the option to invest in you as we establish a partnership. We wait to invest because we want to see how you operate. We’re looking for grit and growth. When we invest in your company, it’s because of the valuation you show us when you graduate, not what you show us when you first sign up.”
Newchip is the only accelerator designed to fund founders while remaining equity-free. By comparison, other accelerators offering tuition-based programs frequently cut corners to graduate founders with a minimum viable product (MVP). “Newchip is proud to provide a full accelerator that is equity-free and led by a team of world-renowned entrepreneurs,” says Ryan.
The Newchip accelerator provides a fully online program
Newchip also sets itself apart with an entirely online program. This format opens the door to founders worldwide.
“To date, startups from 50 different countries have enrolled in our program,” Ryan says. “We are especially able to help international founders who have an interest in the US market. Our team offers global resources enabling international entrepreneurs to bridge the gap between their homeland and the United States. We can help them network and raise funding in the US market as well as in their own countries.”
Founders work through the online curriculum at their own pace. Unlike many other accelerator programs, Newchip allows participants to work around full-time work schedules with self-paced assignments. The accelerator program is intended to be a version of the executive MBA for startup founders. To complete the accelerator in six months, Newchip recommends that founders invest at least three hours each week.
“This program’s training modules are rigorous, and its exams are challenging,” observes Ryan. “Everything worthwhile requires work. We allow you to pace yourself, but a graduation certificate from Newchip means something. Passionate, driven, and self-motivated founders tend to get the most from our online program. To succeed in this accelerator, you must grow, improve, and put in the work. Our graduates apply what they learn and have the grit to hustle. If you are focused, determined, and ready to raise funds while still maintaining control of your company’s equity, then the Newchip accelerator is here to help.”
