Newchip

Diary: Acceptance

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I was accepted into the Newchip accelerator bootcamp program!

For the next four weeks, I will study what it takes to succeed as a startup. Well, that’s the simple way to describe it.

What shocked me the most was not that I was accepted, but how little I currently know about fundraising. The Table of Contents was a wake up call.

For the past several years, it has been an uphill battle to figure out how to get clients. What I should have concentrated on is how to successfully raise funds for my business.

Here are just a few of the things I will learn:

  • Recruiting co-founders
  • Raising seed capital
  • Creating good Pitch Decks

So much to learn. Thank goodness I am a voracious reader!

Have a great rest of the week.

Quick Update – My Visit to Newchip

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I visited the Austin office of Newchip this afternoon. Every Tuesday in July, the office will have a free co-working event, and so I decided to stop by and say hello.

Newchip, according to their page, is about focusing on product development, as well as ” … fundraising, negotiating, partnerships, and scaling revenue …”. I’ve done a bit of research on firms such as Newchip, and it is one of the few I’ve found that has such an extensive accelerator program for startups, and the only one I’ve found so far in Austin.

This appears to be a great place for startups that are just beginning their venture. There is a general work space open regular business hours Monday through Friday. There are also dedicated desks and small offices that are open extended hours.

Kim, the receptionist, was kind enough to offer me a quick tour of the place. I liked that it was a “lean” working environment without it feeling spartan.

Next week, I have a short telephone meeting with a Newchip representative. We’ll go over the various accelerator programs they provide and see if my company is a good fit. I’ll keep you updated!