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Job Description: Venture Fellow

We're looking for the crazy ones that are going to change the world.

Newchip is a global virtual startup accelerator with the goal of providing world-changing, early-stage startups with the tools, skills, mentorship, and network necessary to successfully raise, build, and scale their businesses.

We are looking for entrepreneurial-oriented individuals who are in it for the long-haul to truly assist startups to drive results that create investment returns to our investors and investor partner network.

About you...

  • You have interest or experience with startups and venture capital
  • You have a passion for world-changing technologies and products
  • You are analytical and can do independent research
  • You have excellent written and verbal communication skills
  • You are a great listener and can talk to just about anyone from anywhere

About the Venture Fellow program

The Venture Fellowship is a 7-month part-time program with a preference for experienced startup founders, venture capitalists, and top-tier MBA candidates and graduates.

As a Venture Fellow, you will be responsible for nurturing (pre-seed and seed) companies throughout the accelerator program and assisting Newchip and its partners in selecting companies for receiving potential investment.

To be successful in this role, you should have strategic and practical knowledge of the startup/entrepreneurship scene, finance, software, and technology.

After completion of the 7-month fellowship, top fellows from the program are offered to renew for an additional 6 months or they are offered a full-time role with Newchip: leading new company and fund initiatives, managing the portfolio, working in our advisory division, or heading up new ventures/startups.

Positions are available on-site in Austin, TX and remote from just about anywhere in the world.

Venture Fellow Roles and Responsibilities

You will be responsible for validating that the founders assigned to you really understand the theory and real world applications of the content covered in the accelerator program.

There are three main activities that each Venture Fellow is responsible for:

  1. Facilitating Mastermind Sessions. Venture Fellows will be matched with multiple groups of founders (total number of assigned groups based on Venture Fellow availability and monthly cohort size) to meet once a month to:
    1. Get valuable updates regarding the progress of each company to determine when they are ready to use the different accelerator resources
    2. Review the most important topics of our online curriculum
    3. Support each founder on a professional and personal level (becoming their support group through the accelerator program)
    4. Answer technical questions about fundraising or questions regarding the accelerator resources
  2. Hosting Business Advisory Sessions.Our version of school Office Hours. During these 2-hour sessions, the Venture Fellow is available to answer any question from the founders jumping into the meeting. This is a great opportunity to get to know the companies and founders that are in the program while also providing them with very specific, actionable feedback.
  3. Reviewing Pitch Decks. We put a lot of emphasis in the first moment-of-truth that each of our founders will have with every investor. We support founders by reviewing their pitch decks and giving them specific, actionable and fundraising-focused feedback and recommendations.

In addition to these activities, each Venture Fellow may opt to participate in other activities within the accelerator. For example:

  • The Hot Seat. A pitch simulation in which the Venture Fellows will play the role of an investor. This is your chance to ask questions and really question the business model of the accelerator companies.
  • Valuation Reports. If you like numbers and financial models, you can't miss the opportunity to help our companies with their valuation reports. Using 5 different methodologies, we provide a weighted average valuation to our founders based on the stage of their company.
  • 1-on-1 connections. If you really like a founder, a product, a business model, or a specific industry, you are free to reach out to our founders and schedule one-on-one meeting with them to learn more about their company and provide strategic assistance.
  • Other events.You will assist, organize and host meaningful events for our companies during the accelerator program. Ultimately, bringing industry leaders together to share what they know with our community via livestreams, workshops, and webinars.

VENTURE FELLOW - SERIES A cohort specifically

Please note - all candidates for the Venture Fellowship will be considered for the Pre-Seed and Seed program cohorts only unless additional requirements stated below are met and in line with our expectations for Series-A level venture fellows.

Purpose of the role: To support Series A founders by following programming requirements and providing credible advice relevant to our Series A cohort startups.

Archetype of the right Venture Fellow for Series A (in addition to the aforementioned requirements):

  • The VC: At least 12 months experience working with institutional venture capital, investing specifically in Series-A startups.
  • The Entrepreneur: Former or current founder (or on a founding team) that has successfully raised a Series-A and is currently an active mentor to other founders.

Timeline

Your first 30 days as a Venture Fellow will be a training course through our accelerator given the primary responsibility of this role is to be one of the main sources of information and knowledge for our founders throughout the accelerator program. During this time, you will study our materials to become an expert in angel and venture capital fundraising (Yes, we will pay you to sharpen your knowledge and skills regarding all things VC!).

You will also learn about the internal processes and departments at Newchip and how to host the Mastermind Sessions and provide feedback to our founders regarding their strategies, business models, and fundraising campaigns.

After the first month, we are expecting you to execute the roles and responsibilities mentioned above. We expect every Venture Fellow to commit for the 7-month period so they can champion their assigned founders throughout the entire accelerator program.

Why become a Venture Fellow?

  • You will learn a lot about early-stage investing. This is a great place to start your journey into Venture Capital or Angel investing!
  • You will interact with and directly support hundreds of the most interesting people on Earth, creating a network of driven and brilliant individuals. Our founders come from all backgrounds and nationalities and you will play a vital role in the success of their companies and fundraising efforts. In addition, you will learn a lot about their products, business models, and industries.
  • Get exposure to our partners and to our investor network to learn from them and to coordinate events to support our companies.
  • Extremely flexible scheduling. We have companies all over the world and you can schedule all your activities whenever you are available.
  • Work side by side with individuals with similar interests and goals. Most Venture Fellows are fully invested in entrepreneurship and venture capital.

This fellowship will propel your career forward by giving you exposure and real responsibility to make an impact in the accelerator program and in the lives of founders.

Career trajectory

At the completion of the 7-month program, there are two different options available for the Venture Fellows:

  1. Renew your contract for six additional months. This option is especially useful if you haven't finished your master's degree or if you have another part-time or full-time job.
  2. You may be offered a full-time role within the Newchip Accelerator or other Astralabs' company. The standard route is to be offered a role as a Program Advisor. This role is responsible for managing a number of portfolio companies during the accelerator program:
  • They advise our portfolio companies to meet the challenges of scaling their businesses by assisting them source relevant networks of executives for hire, partners/service providers, as well as investors.
  • They identify, research, and assist the investment team in early identification and selecting our portfolio of companies based on their experiences during the accelerator program.

We're looking forward to meeting you and wish you the best of luck in the recruitment process!

*Note- that a video cover letter via Vimeo or Youtube is preferred over a paper cover letter in the application process.

Requirements

  • At least 4 years of professional experience. Background in a startup, consulting, IB, VC/PE preferred.
  • An MBA (graduated or graduating in the next 6-24 months) from a top business school. We review candidates holistically so if you are a past startup founder or already in VC, no formal education is required.
  • Graduated from a leading university with an excellent academic record. A bachelor's degree in finance, business administration, engineering, economics, or accounting is preferred.
  • A strong drive and the ability to self-direct, especially on multiple projects at any one time. Our work and time is open-ended by nature and you must be able to identify and execute on opportunities to contribute to the team with little management or direction.
  • Personable, engaging, and able to build relationships quickly and easily.
  • Able to research, assimilate and communicate complex ideas clearly and succinctly in writing and verbally. You will see the big picture, and you'll sweat the tiniest details.
  • A leader, and are able to initiate change with an ability to listen, counsel, and coach.
  • Being able to underwrite and evaluate investments based on risk and return fundamentals.
  • Limitless curiosity about business models, competitive dynamics, and innovation.
  • An interest in diving deep in more than one investment category.
  • Interest in pursuing personal and professional growth by learning new principles.
  • Familiarity with the Google Suite — specifically Sheets and Docs.
  • You are organized and plan ahead, but you don't get stressed out when things change at the last minute. Because they will. You roll with it.
  • Write things down. You document your process and maintain records of everything you do.
  • Are professional and presentable and greet everyone cheerfully.
  • Get to Inbox Zero every day.
  • Have a cover letter and resume that demonstrates strong attention to detail and appreciation for a polished product.

Benefits

  • Starting pay of $25-$40 per hour (depending on your level of experience) up to 20 hours per week.
  • Potential for full time hire with industry competitive salary, benefits, and equity stock options.
  • Opportunity to make a meaningful impact in a revolutionary space working with hundreds of startups.
  • Organizational remote team culture.
  • Periodic planned company, departmental, and team outings to build team culture and engage community.
  • Unlimited healthy snacks in our Austin headquarters.
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