|
|
Sputnik ATX is an Austin, TX-based accelerator that funds maker-founders. The firm helps people reach their full potential by creating an ecosystem to attract hard-working nerds, connect them with investors, and train them for success. In Russian, Sputnik means partner. Sputnik provides start-up training, mentoring, and support to successful applicants. Selected startups will also get office space in Sputnik's location in downtown Austin for up to 4 team members. If selected, startups will receive a $100,000 investment via a SAFE note that converts at a 30% discount on the next material raise, with a $4.5mm cap. For UT Entrepreneur In Residence companies, funding is $10,000. Sputnik ATX is focused on companies that already have a minimum viable product and at least one customer. The firm is open to most industries and verticals, excluding weapons, alcohol, recreational drugs, porn/adult, real estate, multi-level marketing, franchises, and restaurants.
|
