Newchip – Virtual resources for startups

Take your business to the next level with an accelerated program of knowledge and investor access.

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Just because you have the next big idea, doesn't mean you've got all the support and skills you need for it to take off. For founders in the startup phase, an accelerator program could be just the ticket.

Maybe you're just getting your business off the ground and looking for guidance from those who've done it many times before. Or perhaps you need an injection of cash to get to your next stage of growth. With an online accelerator program, like Newchip, entrepreneurs can learn how to grow their businesses and potentially get funded from their own corner of the globe.

What is Newchip?

Newchip is a 100% online business accelerator that is equity-free. Its program includes masterminds, one-to-one mentorship, virtual demo days with investors, live classes and training sessions.

Regardless of the stage, your business is at or where you're located in the world, you'll get access to Newchip's network, knowledge base and startup communities.

How can I use Newchip for my business?

Newchip provides founders with the tools and skills needed to build and fund startups with a series of accelerator programs tailored to their stage of growth.

  • Equity-free programs
  • 100% online and remote so you can operate from anywhere
  • Fast-track your skills development
  • Connect with a global community of founders, venture capitalists and angel investors
  • Develop your startup and fundraising roadmap with expert mentors

What are Newchip's programs?

Newchip offers three separate programs for companies at different levels of their startup phase.

The first program offered is a pre-accelerator course that provides lifetime access to course content and associated perks. Access will cost a $100 donation to Newchip's scholarship fund for minorities and female founders.

Applicants applying for either the Pre-seed Accelerator and Seed and Series A Accelerator will usually receive a grant or scholarship by a fund partner for the full cost of admission into the program.

What can you expect with each program?

Note: All dollar amounts and prices are expressed in $USD.

Pre-accelerator ProgramPre-seed AcceleratorSeed and Series A Accelerator
Program LengthSelf-paced program3-6 month program3-6 month program
Includes
  • Over 30 hours of online modules
  • Startup and legal templates
  • Incorporation assistance
  • 2-4 hours coursework biweekly
  • Mentor office hours
  • Mastermind session
  • 2-4 hours coursework biweekly
  • Mentor office hours
  • Mastermind session
Requirements$1,000-$50,000 raised or

$1,000-$50,000 in revenue

$50,000-$250,000+ raised or $50,000-$250,000+ in revenue$250,000-$3 million+ raised and $250,000-$3 million+ in revenue
Program focus
  • Raising funding to build MVP
  • Generating initial revenue and sales to qualify for the Pre-Seed Accelerator
  • Raising funding up to $1 million
  • Generating revenue up to $1 million
  • Raising funding up to $10 million
  • Scaling revenue up to $10 million

How does Newchip compare against alternatives?

There are not many equity-free accelerator programs like Newchip around, especially if you're looking for a 100% remote option. To help you decide if Newchip is right for you, we've compared some of the key aspects to some similar alternatives.

Note: All dollar amounts and prices are expressed in $USD.

NewchipDraper UniversityFounder Institute
LocationFully remoteSilicon Valley, CaliforniaHubs in Sydney and Melbourne plus virtual programs
Key features
  • 8-10 cohorts per year
  • 3-6 month program
  • 2-4 hours of coursework biweekly
  • $400,000 in program benefits and resources
  • Access to a pool of mentors
  • Curriculum is customised to each cohort
  • Quarterly sessions
  • Five-week program
  • Full-time requirement
  • Opportunities to pitch your ideas to venture capitalists
  • Partial financial aid and scholarship opportunities available
  • Quarterly programs
  • 14-week program
  • Minimum 20 hours per week
  • Program participants receive financial upside through an equity collective
  • Access to a pool of mentors
Admission costsCovered by grant or scholarshipUS$12,000US$1,499 plus 4% equity

Step by step: How does the Newchip application process work?

  1. Application review (3-5 business days). Submit your application and Newchip will email you to advise if you have been selected for an interview.
  2. Founder interview (5-20 business days). Once approved, you'll be able to schedule an interview with the founder.
  3. Evaluation (2-3 business days). Newchip will determine your suitability and meet with its acceptance committee.
  4. Selection. Once accepted, you'll be given 5 business days to accept your seat in the program.

How to contact Newchip?

To begin with, you can sign up for an info session or, if you're ready to apply for a program, you can apply online.

Newchip can be contacted by email, Facebook and Twitter.

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