Newchip

2016

Founded

398

Investments

United States

Offices

Accelerator

Investor Type

About

Newchip was an online startup accelerator founded in 2016 by Andrew Ryan, aiming to democratize entrepreneurship by providing accessible, equity-free programs for early-stage startups. The accelerator offered a range of services, including a free Bootcamp program launched in November 2019, designed to help aspiring entrepreneurs transform their ideas into viable businesses and raise initial capital. Newchip's model was unique in that it required founders to pay upfront fees for its programs, differing from traditional accelerators that typically invest in companies and acquire equity in return.

This approach raised questions about the value proposition and sustainability of the accelerator. Over time, Newchip faced significant challenges, including financial difficulties leading to a Chapter 11 bankruptcy filing in March 2023, and serious allegations against its CEO, Andrew Ryan, including sexual harassment and mismanagement. These issues culminated in the company's liquidation, leaving many startups that had paid for its services without the promised support and resources.

Portfolio Companies

Startup A, Startup B, Startup C, Startup D, Startup E, Startup F, Startup G, Startup H, Startup I, Startup J

Gepgraphic Focus

Global

Key Differentiators

Equity-free programs, Online accelerator model, Free Bootcamp program

Thypical Investment Size

$8,000 to $20,000

Total Funds Raised

$4.3 million

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Artificial Intelligence & Machine Learning (AI/ML)

Big Data & Analytics

Austin

Pre-Seed

Seed

Series A

United States