Newchip 

Great Company
I am an investor since 2018 and they have been transparent about everything. They have helped a lot of start ups to secure fundings which are now doing great.

I worked with Nihar and Andrew at Newchip as an investor and a business partner. Everyone I interacted with there is very passionate about what they're doing. They always have their customers and business partners in mind. I fully support the company and the team in their mission, and looking forward to continue working with them as they grow.

I have been an investor with ASTRALABS for the past 2+ years. I have been consistently impressed with their business practices, transparency, and communication. Would highly recommend!

I'm a colleague of several startups who have worked with Newchip. This is the real deal - a world class group of people who know how to make businesses successful. Led from the top, everyone cares and is invested in your success, sometimes literally. It's a small investment for the amount of return which is the difference between making it and not.

Andrew and the team at Newchip have been professional and helpful in securing and protecting my investments. Super grateful for a team that communicates so effectively and timely!

Great experience so far, have been working with Newchip for the past year or so and I can only have great respect for the work they do with growing businesses.

Nothing but a great experience with Newchip. They seem to have found a consistent, repeatable model for getting startups off the ground.

This is a great company! I am an investor in the company and they have great communication and their mission is amazing!

Excellent Accelerator, great training programs with useful content, experienced mentors that went the extra mile and a well designed program that offers a great all around experience. The NewChip team has been very responsive and supportive during the program

Easy to use and helpful team and a good variety of deal flow.

Since being recruited to NewChip, I've been blatantly lied to regularly, been marketed services during EVERY 'lesson', been upsold services on meeting with their 'mentors', and experienced incompetence so extreme it should be considered thievery.

To list a few examples:
- During recruitment, I was told we could pay 1/2 upfront and 1/2 when money was raised OR get a refund if fundraising isn't available (I started receiving additional invoices 3 months in)
- During recruitment, I was told we'd receive 25 intros and were guaranteed a term sheet. (We received 1 intro to a VC who has no clue who we were or what we did)
- To make it to investor relations you have to watch 30+ hours of home videos from incompetent schmucks in their pajamas and take hair-brained tests every few hours. There is no video production, just a crude whiteboard with some incoherent scribbles and unstructured ramblings.
- Every single 'lesson' is 1/2 promotional material to buy other people's services, even mandating you watch marketing videos
- It takes some people months to complete the idiotic 'lessons', but once you do, you have to cobble together all of your materials that exist on Google Docs, PowerPoint files (there still have notes for the people to come back and finish the prompts), and random websites, and go in search of a review. The review then takes a few weeks and results in you getting matched with your investor relations point of contact. Now the scam really begins.
- There is a meeting to start IR where they read you a script about what is expected and have you sign a 'pledge'. Their 'pledge' is basically a new contract that reneges on everything they promised in the first contract. To summarize the pledge, 'We'll do our best to help you raise money, but it's your job to go book meetings". There were ~50 people on the call and everybody was curious about what exactly we were paying for at this point. The NewChip employee on the call had 0 answers and differed all liability.
- In our first meeting with investor relations, he offered to introduce us to his high school football coach, a friend from college (who had no VC background), and suggested we reach out to angel investors.
- I received 'this is an email from the CEO, and I read every one of these reviews' emails weekly. I voiced my concerns every week and never had any response.
- I've had multiple emails with customer success where they explained "Raising money is hard. Our people are doing their best, but ultimately it's your job to book meetings and raise money"
- I took 3 meetings with 'mentors' from their network, 2 of which turned into sales calls for services we had no interest in paying for

For reference, while we were in the program, we were booking 5-6 investor calls a week with cold outbound on LinkedIn, NewChip provided 1 intro to a VC that had ZERO idea who we were or interest in the company at all.

Instead of contributing to the folks giving dumb and dumber a run, here's a quick list of better ways to use that money...
- Make a bonfire
- Leave blank checks all over your local park
- Make confetti with $100s
- Pay everyone at your local kindergarten to get you calls with investors (may actually be more productive)

The mentors in the program are skilled, enthusiastic and generous!

Newchip is a scam— as someone who has been getting screwed by them, I can share a little bit here.

After promising you a guarantee that you will get refunded the ~10k if you do not walk out of the program with an investor and term sheet, they send you a whole list of unattainables when you actually request for the refund (imagine promising someone a full happiness guarantee refund for your product and then when they ask for it, you tell them they need to climb mt kilamanjaro first! I feel like I’m in a Nathanforyou episode.

The entire curriculum was so bogus— information you could get online, program “professors” who flat out say they are there only bc of the money and not bc they believe in the program.

“To support your request for a refund, we will need to see evidence that your company is still operational, that you have not received a term sheet, and that you have continued to raise funds outside of our accelerator program. The form has a way for you to upload the information. If you prefer, you can send me the evidence and I will create a file for you. Here are some additional ways you can provide evidence:

1. Still being operational as a company:
A copy of your most recent financial statements or bank statements
Evidence of recent sales or business transactions
A letter from your accountant or lawyer stating that your company is still operational
2. Not having received an investment proposal or a term sheet:
A copy of your communications with investors and the responses.
Bank statements for each month you were in the program.
A letter from a reputable third-party (such as a law firm) stating that the investor(s) did not provide a term sheet
3. Continuing to raise funds outside the accelerator:
Evidence of fundraising efforts, such as communication with potential investors, pitches made, and meetings held (screenshots are fine). These must be time stamped between the month you Launched and when your guarantee expired. Please note only investor outreach to non Newchip introductions will count towards this.
A list of all investors you have spoken to, with their contact details and any notes or feedback received
A summary of your fundraising progress, including the amount raised, terms, and investors involved
Please let us know if you have any questions or concerns about the evidence we require. We are here to assist you with this process.”

The Program content is great, I learned how to find resources, improve deck, pitch and networking strategies
Mentors and networking possibilities are great as well

Definitely geared towards super early entrepreneurs. Unfortunately, a ton of the content was not super useful to us as we have been in business for 2 years. Nonetheless, there were some useful tidbits and the later modules did help. Overall, organization was lacking (we were invited/accepted/requested to interview and apply for the program like 5 times AFTER we had already started the program... Also responsiveness could have been better both with mentors and NewChip staff.

We've enjoyed our experience fully with Newchip. Like anything in life, you get out of it what you put in, and we have been putting a lot into the program and we are seeing results.

I am a new candidate in the Pre-Seed Incubator program. So far I am enjoying my experience, and the people within the company have been great. I look forward to finishing my program and raising capital.

I have really experienced a positive impact since i joined Newchip incubator programme. Ranging from meeting new people globally,shaping my ideas..Thanks Team.I would recommend Newchip to Start a GLOBAL program on Training of trainers (TOT) or mentors of mentors,this would allow them to reach out to each and every hanging or struggling idea all over the world.

Allow me to mention a few names at Newchip,Without them i couldn't have reached this far...from a Small village in kenya Africa to the World...interacting with experienced mentors,Business men and women, being exposed and of course interacting with my fellow cohorts from all over the world.

Just received a call from a Newchip representative... trying to ask if I would take a 50% refund. LOL 50% for not fulfilling their guarantee.

Furthermore, It makes since why their reviews go from bad to good, because they try to settle on 50% to remove commentary...