Building a startup is hard. Building a company to support startups is equally difficult. That’s the conclusion from TechCrunch’s report on Techstars and Newchip.
In Newchip’s case, the accelerator seemed to promise more than it delivered. Mix in a culture that seems chaotic at best, and you have a situation where accelerators go bankrupt and startups close up shop over potential stock options. It’s a mess.
Techstars is different. The company has been restructuring its business in recent years. That led to increased sales and the termination of some programs. But unlike Newchip, Techstars is deep-funded, invested, and helping startups do more, faster.
Every time a market shifts from boom to conservative, it disrupts the large and small businesses that make up the market. In the downturn in ventures, accelerators have proven to be no exception. That said, with Newchip in liquidation and Techstars moving forward with its revamp, the accelerator’s revamp is likely closer to the end than the beginning. Press play and let’s talk about it!
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