Newchip, the Austin-based web and mobile investment platform that connects startups to investors, has launched a new accelerator program that does not require a share of a startup’s equity to participate. This program is available for San Antonio-based entrepreneurs because participation in the accelerator is completely online.
The program offers a ten-week curriculum with training, one-on-one mentor sessions, and live classes that help founders learn how to raise investment capital from angel investors, venture capitalists, and via crowdfunding. Participation typically takes about three to four hours each week with the rest of the program to be completed at the founder’s pace.
Admissions are on a rolling basis; application information can be found here.
The first accelerator cohort began Monday with 50 companies from around the world. The startups range from the pre-seed or early stage of product development of a minimum viable product to the seed stage when founders have a product or service and some demand for it.
“Founders Ryan Rafols and Travis Brodeen created the accelerator to help companies with fundraising,” said accelerator adviser Joshua Lawton-Belous. “There are companies in the global startup community that have been unable to build their dreams due to a lack of access to accelerators.”
Newchip’s model is to connect startups to their investment platform which aggregates the best deals from a variety of equity-based crowdfunding platforms in one place. They have over 100,000 non-accredited investors participating in its equity crowdfunding website looking for business and real estate investment opportunities across the U.S. in amounts as low as $100.
The accelerator will help bolster the number of investment opportunities for Newchip, which “connected entrepreneurs with over $20 million in funding last year,” according to Newchip co-founder and chief technology officer Brodeen.
“We created the Newchip Global Online Accelerator to connect investors with quality entrepreneurs and startups in which they could invest and prepare startups and entrepreneurs to raise a minimum of $500,000,” Brodeen said.
The company uses machine learning to match investors to investment opportunities based on their interest and preferences.
“Unfortunately, compared to Silicon Valley and New York City, the entire State of Texas invests substantially less in startups,” Newchip co-founder and chief executive Rafols said. “You need to tap into a global network of active investors. Our platform enables our active investor syndicate to identify great entrepreneurs and startups in which they can invest.”
Founded in 2016, Newchip is funded by deal-listing fees, commissions on investments, exchange transaction fees, data analytics, and partnership fees. They reinvest 10 percent of its profits to fund entrepreneurs in developing countries. The company aims to meet the growing demand for deal flow with its new accelerator program.
“Our 100,000 investors told us that we needed more quality entrepreneurs and startups to connect them,” Brodeen said. “This year we want to connect entrepreneurs and startups with $100 million in funding.”
Featured image is of Travis Brodeen (center) who is both chief technology officer and co-founder of Newchip. Photo credit: Joshua Lawton-Belous.