This Austin accelerator made big claims; employees and customers say it didn’t deliver

Newchip, an online accelerator promising to help startups, has filed for bankruptcy and is now facing insolvency amid employee and client discontent.
Dozens of employees of the troubled organization staged a walkout on May 4, demanding that founder Andrew Ryan step down as CEO.
Ryan — who previously went by the name of Ryan Rafols — started Austin-based Newchip in 2016 after spending more than seven years as a city commissioner in Austin, according to his LinkedIn profile. 
Newchip initially started out, according to Grit Daily, “as an aggregator of top deals from various equity-ba

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