Dear JazzJune Community,
In these moments, it’s challenging to find the right words. We are faced with a startling development that has abruptly shifted our course. On May 12th, the Newchip Accelerator, an essential part of our journey, filed for bankruptcy and ceased all operations, leaving a trail of uncertainty in its wake.
Despite the unfortunate circumstances, we want to shed light on our journey with the Newchip Accelerator. Our experience, like many others, was a unique one. We joined the program in November 2022, excited by the opportunity to work with an accelerator boasting a robust track record of funding and support.
Just weeks before the program’s untimely end, we had reached a significant milestone, entering investor relations. Our hearts go out to fellow startups that were earlier in their journey, their investment in the program now a waiting game with the courts.
This sudden turn of events has led many startups, including JazzJune, to question the foundations we’ve built. There’s a lingering feeling of failure that’s hard to shake off, a sense that we’ve let our businesses, partners, and customers down. But we must remember that these are not failures of our own making.
As the CEO of JazzJune, I’ve experienced these feelings firsthand. It’s a tough pill to swallow, recognizing that the path you envisioned has changed dramatically and without warning. But in these moments, we learn the true strength of our resolve.
To our fellow startups grappling with similar feelings, we stand with you. Let’s remember that failure is not falling down but refusing to get up. We’re choosing to rise, to dust ourselves off, and to continue believing in the potential that brought us here in the first place.
Despite the loss, we’re choosing to see the silver linings. Throughout our time with the Newchip Accelerator, we gained invaluable knowledge, honed our pitch, and deepened our understanding of our business. The dedicated employees of Newchip, who served startups like us until the very end, have our utmost respect and gratitude. We can’t overstate the value of these learnings, even as we grapple with the disappointment of a journey cut short.
JazzJune remains resilient, our spirit unbroken. We’re a debt-free EdTech startup with a recurring revenue stream and a thriving industry to call home. We’re choosing to see this not as an end, but as a new beginning, an opportunity to carve our path in the startup landscape.
If you’re looking to invest in a company that has weathered the storm and emerged stronger, we’re here and ready for the next chapter. We’ve learned, we’ve grown, and we’re just getting started.
In adversity, we find our true strength. Thank you for standing with us during these times. Your belief fuels our resolve.
Alex Londo, CEO and Co-Founder of JazzJune