AUSTIN, Texas, Aug. 27, 2019 (GLOBE NEWSWIRE) -- The Newchip Global Startup Accelerator (NGSA), is excited to announce their partnership with the Korea Trade-Investment Promotion Agency (KOTRA) to provide Korean entrepreneurs with all of the tools and skills necessary to build, scale, and fund their startups.
“Our team has worked hard to create a world-class accelerator and we are looking forward to working with KOTRA and South Korean entrepreneurs,” said Ryan Rafols, Founder and CEO of Newchip. Newchip has helped hundreds of entrepreneurs since it’s launch in 2016 and this partnership with KOTRA comes seven months after launching it’s first accelerator cohort. Newchip startups have received a total of $10M in commitments in 2019 and $20M in 2018.
“Our team at KOTRA was impressed not just by the breadth of knowledge and passion that Newchip’s team members have, but also by how their accelerator is structured and the work that they do with entrepreneurs in their program. We are proud to finally start this partnership after connecting with Newchip at KOTRA Dallas’ SXSW 2019 pitch competition and Trade Show exhibition,” said Joon Park, Global Business Development Manager at KOTRA. The first batch of Korean entrepreneurs are entering Newchip’s September 2019 cohort and will undertake the twelve-week curriculum alongside startups from across the world vying for venture capital funding.
“Taking a successful company into a foreign market is difficult. Understanding and preparing yourself to raise successfully in the U.S. is even more difficult. Our entire team is excited to work with KOTRA and their Korean entrepreneurs,” said Joshua Lawton, Co-Founder and Accelerator Director of Newchip. Newchip operates four Online Startup Expos for graduates per year, with 100+ well known venture capital funds and partner funds in attendance. For more information on the Expo, email npatel@newchip.com
Newchip’s equity-free accelerator is revolutionizing the startup accelerator industry by giving access to companies outside of major startup hubs that are often overlooked and don’t have the networks for traditional venture capital. It has programs for Bootcamp to Series A stage companies and it accepts new applicants on a rolling basis, graduating more companies than a typical accelerator due to its equity-free tuition, and scholarship based focus.
About Newchip Accelerator:
The Newchip Accelerator is an immersive, equity-free, online accelerator program for Early Stage to Series A startups who are serious about scaling their businesses to the next level. Participants engage in a comprehensive curriculum of training, 1-1 mentor sessions, Masterminds, and live classes to prepare them to raise investment capital from Angels, VC’s, and the Crowd. Three components comprise the Newchip Accelerator: Bootcamp, Pre-Seed, and Seed & Series A. Startups apply and are accepted into an appropriate accelerator program based on the stage, traction, and trajectory of their business.
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