Everywhere you turn, new enterprises are popping up, increasing competition for every existing enterprise.
In order to spur businesses to improve so they can surpass their rivals, competition is something that is very crucial and of the biggest importance.
Businesses are compelled to evolve into better versions of themselves in order to meet a greater proportion of demand and perhaps even cultivate client loyalty.
Due to the intense strain, business owners frequently mix up their managerial approach, which ultimately leads to failure.
Entrepreneurs typically seek advise on how to surpass and compete with their rivals in order to fight such challenges. Finding someone who is prepared to help without being either incredibly rich or a total schmuck is however challenging.
Entrepreneurs lack the time to put their business on hold while they search for potential collaborators. Furthermore, they wouldn’t have the money to enroll in practically every accelerator program in search of the one that will genuinely help them learn something new.
Entrepreneurs make every effort to pursue reputable accelerator programs at this time. And Newchip is one of the most well-liked and highly regarded websites that offers a secure and comprehensive accelerator program out of the various programs that are available on numerous websites.
However, an entrepreneur cannot make the decision to enroll in such accelerator programs without being completely devoted to their company and certain that they would push it forward to success.
This article is about an Accelerator called Newchip. In this article we will be presenting forth the complete Newchip review. We will go through 3 categories, Mentorship, Education Curriculum and Funding; and as we go down, we will rate each and every section or aspect with marks and then ultimately a grade. This is help you evaluate where Newchip stands.
Newchip Accelerator Mentorship:
Almost every accelerator program has mentorship as a component.
Now, assuming every accelerator follows these rules, why not submit an application to a random one?
Consider yourself a student for the sake of illustration. There are numerous teachers in your school, who you can seek for assistance, but nobody ever does, or whoever does, makes no sense at all. That would make it seem as though you weren’t moving forward at all.
In this regard, the mentors in these accelerator programs are comparable. As is customary,
“Quality above Quantity”
This is an area where Newchip excels. Many other accelerator programs accept mentor applications from just about anyone with a marketing profile. They might have employed 100 or even 200 mentors. However, there is no use in enrolling to such an accelerator program unless these mentors have relevant experience and know how to connect with the candidate.
Online reviews frequently highlight how excellent the mentors in Newchip’s accelerator program are. According to several reviews;
“Newchip connected me with an AMAZING mentor…”
Most accelerators do not offer any compensation to their mentors, but they view this as an opportunity to “give back to the startup community” Despite having a noble and admirable vision, it may not always produce the best and highest quality. Perhaps you may find a good mentor and perhaps, you may not.
The outcome is mostly determined by chance. After all, wealthy businesspeople and executives rarely have spare time to give to charity or make investments.
The way Newchip thoroughly vets its mentors is one feature that sets it unique. They pay their mentors in addition to having a thorough selection process.
Newchip will always compensate a mentor for their time and effort if they have relevant experience and are willing to offer assistance and guidance to entrepreneurs. This is fair to both the mentor and the candidate and upholds discipline.
The candidate has the opportunity to receive guidance from the top mentors while the mentor receives well-deserved compensation.
When mentors receive generous compensation from their employers, they are inspired to support the applicant even more, which enhances the company’s reputation. In the end, Newchip benefits both inside and outside, making it a win-win situation (against its competitors)
The average rating for Newchip’s mentors, according to the reviews we have read and analyzed, is “85/100,” which equals a “A” grade.
Newchip’s Educational Aspect And Its Curriculum:
There are just two extreme reviews on Newchip’s website, both of which are either 1 star or a stunning 5 stars. The one star reviews generally complain about how pricey the accelerator program is at Newchip. The 5-star ratings, on the other hand, commend the products and acknowledge everything that Newchip’s accelerator program has taught them.
Overall, the number of favorable reviews vastly outweighs the number of unfavorable reviews.
Why then are there more good reviews than negative ones?
Let’s discuss the information and training that Newchip’s accelerator program provides to its applicants.
Newchip’s accelerator program once again shines when it comes to education, just like some of its other components. When compared to most accelerators, Newchip offers three program tracks to meet different company stages:
- Pre-Accelerator Curriculum.
- Pre-Seed Curriculum.
- Series Seed & A Curriculum.
The curriculum for each program is created keeping in mind where you are in particular in the journey of your company as well as the beginning stage. The several different program curricula all have different lengths and time requirements.
A self-paced curriculum, the Pre-Accelerator program includes more than 30 hours of online lectures, startup legal templates, and assistance with incorporation. It is intended to help extremely early-stage enterprises acquire seed cash so they can develop an MVP and start bringing in money.
So that the video is not too long and the applicant loses interest, each and every specialized lesson based on a particular topic is divided into its own category. Despite being brief, it provides thorough coverage of the subject.
In the long term, these videos are helpful since they provide candidates the option to study them again if they forget something.
The six-month Pre-Seed and Seed & Series A programs involve 2-4 hours of weekly coursework.
They also come with extra benefits and bonuses to help your business run smoothly, such as mentor hours, a personal mentor, mastermind gatherings, pitch coaching, seminars, and more.
They appear to have received instruction of the greatest standard, and program graduates had nothing but glowing things to say about the experience:
“Having attended some other things here in Houston and other startup workshops, Newchip blew it out of the water. It was very real life and real logic-based. The flow of the program was also great.”
Stated Emmit Schultz, Founder & CEO of Savi
Looking through all the reviews and ratings for the educational component of Newchip’s accelerator program, the ratings are often lower than its mentorship. That does not, however, imply that Newchip’s academic curriculum is subpar.
Education is a crucial component of running a successful company; without it, a business owner may become naive and overwhelmed by their staff.
Newchips’ educational component has roughly 70/100 points, or a B grade, yet it still has excellent reviews and happy applicants.
Newchip’s Funding Aspects:
In order to help entrepreneurs develop the skills they need to lead their business to success, Newchip offers businesses a six-month plan that comprises of a variety of courses.
It’s time to start exploring the topic of “Funding” in Newchip’s accelerator program.
Without a doubt, having the ability to raise capital is essential to running and growing your organization.
Despite this, bad companies that obtain a lot of funding continue to be bad companies. Mentorship, education, and funding—the three primary pillars of an accelerator—really work well together because they help founders understand and know how to spend their cash effectively.
It still costs money to start and grow a corporation, even with excellent mentors and a superior education. The following Newchip services are especially helpful for assisting its cohort companies in raising the money they need:
- Having access to the Investor Connect Platform, a special SaaS platform that connects entrepreneurs with potential investors.
- Ten investor meetings are the bare minimum that is promised. Contrary to other accelerator programs that make a big deal about giving companies access to an investor network, Newchip actually guarantees that business owners will meet. Another significant advantage of Newchip is this.
- Venture Fund: Newchip may make an instant investment in your company through its fund, Journey Ventures, in addition to setting up investor connections.
In contrast to programs like Y-Combinator and some others that need a fixed investment to be made by a corporation in order to be admitted, Newchip makes no guarantees that you will receive funding.
Having said that, Newchip will not accept you into the accelerator program if you do not own any shares in your company.
If you are accepted, there is only a cost to participate in the accelerator. If Newchip decides to finance a capital investment themselves, they will then accept stock as a portion of their investment.
This is a rather reasonable trade-off considering that other accelerators routinely need equity in the company even when they make no commitment to provide finance.
It is clear from all angles that Newchip is a trustworthy and impartial website for accelerator programs. Without taking ownership of any portion of your equity, Newchip guarantees that you won’t be taken advantage of by them in any way while enrolled in, or after completing, their accelerator program.
How current Newchip is with their clients is yet another outstanding quality. Typically, they create a comprehensive list of the applicants for their accelerator program. This may seem unimportant, but it demonstrates how Newchip keeps track of its candidates for subsequent elections.
Because most businesses just view their customers as a means of generating revenue, this is not something that every firm does.
According to all the reviews and ratings we looked into, Newchip’s funding and security would overall receive an 80/100. (Which translates into an A grade)
To conclude our article, Newchip’s reviews are quite positive. One of the main reasons many businessmen actually prefer Newchip is because of the fact that Newchip does not ask for equity.
And even if that may seem trivial, it is absolutely not. The fact that Newchip does not hog up a part of the company’s equity makes it that more trust-worthy. It ensures businesses that Newchip will not work for them while bearing bad intentions.
An accelerator can be called an accelerator only if it provides these main three things:
- Education.
- Mentorship.
- Funding.
And while it is obvious that not ever accelerator can excel in all three aspects, Newchip is definitely high on the chart. For all the different aspects, Newchip does not score average or below average, every grading of Newchip through our research and the reviews found online, is positive and high.
If you’re a fresh entrepreneur looking for a scam-free accelerator program; we too, through our research, recommend Newchip as one of the best choices!