Newchip Reviews: Is Newchip’s Mentorship Up To Par?

With the changing world, the urge for money is expanding fast. This need for cash encourages many individual entrepreneurs to ultimately use their earlier capital to start a firm.

Assume you are an entrepreneur who has recently started a business. Your company has made it through the first stage and successfully infiltrated the specialized market, but you now face several competitors.

What should you do now? As demand shifts or rivals expand, it is evident that a company’s goals and priorities must shift.

The objective of “survival” on your business plan is slashed off and replaced with a new goal of “growth.” However, in the modern world, survival can tend to be easier than growth. That is because many new businesses use low prices (penetration pricing) to break into the market, and many consumers look for cheaper goods. Change in the modern world is difficult because of the number of competitors. As your business grows, the expenses increase, and when costs increase, the quickest way to deal with them is to increase the prices of your goods or services. However, with expensive goods, many people may not buy them. 

It is where an ‘accelerator program’ comes in. Obviously, in today’s time, there are just too many accelerator programs out there. From Techstars to Y Combinatory, people cannot figure out which accelerator program will be able to fit their needs. In today’s article, we will review an accelerator program called “Newchip.”

Before we delve further into Newchip’s review, we need to know what accelerator programs are. To describe briefly, accelerator programs are sessions that can stretch for an extended period. You can call them ‘schools for entrepreneurs.’ They help educate young entrepreneurs about entrepreneurship and how to lead a successful business. They give them real-life situations, such as the downfall of their business, and help them deal with it, just in case their business does meet a dark time within its existence.

You Might Also Like: Social Media Case Studies from esteemed Brands and Digital Agencies

With That, Let Us Start Our Newchip Reviews.

In recent times, Newchip has become a part of “Astralabs.” But now the question arises, what is Astralabs? Astralabs is essentially the parent company of Newchip and a few other businesses. With Newchip’s indulgence with Astralabs, Newchip has started to be known and gained a tad more popularity.

Newchip provides a six-month course for 7,000 dollars. The study, as mentioned, stretches over 24 months, including online lectures, Q & A sessions, and ted talks with investors and other entrepreneurs.

  • The central aspect of today’s Newchip review is to see if Newchip’s mentorship is satisfactory. 
  • Comparing Newchip’s Mentorship to other accelerator programs
  • Providing mentors is a component of almost every accelerator program.
  • If every accelerator achieves this, why not just pick one at random?

As an example, consider yourself a student. Your school has numerous teachers from whom you may seek assistance, but no one or whoever does makes absolutely no sense. Wouldn’t that make you feel like you’re making no progress?

It is comparable to how the mentors are in these accelerated programs. 

“Quality over quantity,” as they say.

It is an area where Newchip excels. Many other accelerator programs accept almost anybody with a marketing background as a mentor. They may have employed 100 or even 200 mentors. However, there is no use in registering for such an accelerator program unless these mentors are seasoned and know how to engage with the candidate.

Numerous internet evaluations have emphasized 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 compensate their mentors in any way, but they see this as an opportunity to ‘give back to the startup community.’ Despite its lofty and desirable goal, it does not always provide the highest and best quality. Perhaps you’d find a good mentor. Maybe you won’t.

The outcome is primarily determined by chance. After all, wealthy business owners and executives have little time to contribute and invest.

One thing that distinguishes Newchip is how well they monitor their mentors. They not only have a rigorous screening process in place, but they also reward their mentors.

If a mentor has the expertise and is willing to help and advise companies, Newchip will always compensate you for your energy and work. It keeps discipline and is ethical to both the candidate and the mentor.

The mentor is compensated correctly; they are paid what they are worth, and the candidate has access to the most incredible mentors.

With significant salaries from their employers, mentors are more driven to help the candidate, which improves the company’s image. Finally, it’s a win-win scenario for Newchip both inside and outside (against its competitors)

According to the evaluations we have seen and investigated, the mean score for Newchip’s mentors is “85/100,” resulting in an “A” rating.

Must Read: 9 Reasons Why Customer Experience Matters for Your Business.

Any accelerator program must have three main pillars. They are;

  • Education.
  • Mentorship. 
  • Funding.

However, not all of these applications can provide all three pillars flawlessly.

Nevertheless, Newchip takes one of the most vital positions in mentorship. So, suppose you’re seeking professional assistance on how to operate your business. In that case, it seems that only a few trusted accelerators such as Techstars, Y Combinatory, 500 startups, AngelPad, and Newchip are most trusted. While each of these accelerators has flaws, we recommend Newchip as much as we would one of the most famous accelerator programs based on our Newchip’s review of their mentorship.