QOLOS, an online billing SAAS company located in Green Bay, Wisconsin, applied for and was accepted into an accelerator called Newchip, based in Austin, Texas.
The pre-seed accelerator program, which is a grueling six-month program, begins March 10, 2021, and finishes with a demo day in September.
A “newer” accelerator on the block, Newchip’s founders wanted to create something different than what they saw in Silicon Valley. It’s an equity-free program, filled with mentors and advisors with fundraising experience, and a platform to connect hundreds of new investors, partners, and potential co-founders or talent. Newchip takes in 100 new and growing companies in each cohort where other accelerators, such as YCombinator or Tech Stars, take in only 5-10 startups.
“I am really excited about this opportunity,” Chad VanCalster, founder/CEO of QOLOS, states. “The access to get QOLOS in front of hundreds of investors with a strong fundraising plan would position us for scalable growth.”
The goal of the accelerator is to raise a pre-seed round of investment for each company in the cohort.
QOLOS began in 2018 as a spinoff of another project through Chad VanCalster’s previous web design company, Sonix Studio:
“It was a project that served our customers well, getting to the point where we were collecting over a half-million dollars a month for our clients. I had that “aha!” moment where I realized that this is the business I should be in.”
Software companies like QOLOS can scale very quickly with proper funding and the right team. This opportunity to meet with investors with a structured fundraising plan is exciting for the future of QOLOS.
“It’s not only exciting for me and QOLOS, but for our community as well. Large software companies don’t normally just pop up in Green Bay (WI) like this. This means lots of good-paying software and customer support jobs right here in our community.” VanCalster continues, “Can you imagine the impacts of Microsoft or Google being founded right here? I am not saying we are going to get to THAT level, but other tech companies tend to follow success. Combine what we are doing and the efforts of Tittletown Tech and the Green Bay Chamber, Green Bay could become the tech hotspot of the north – and that is pretty exciting to envision.”
Chad hopes that, with the help of this accelerator, QOLOS will drive top talent and new business into the midwest, starting in as early as six months.
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