faq

Frequently
Asked Question

Who is Sputnik ATX VC?

👩 Top ranked woman-owned and woman-led VC / accelerator
💡 Industry-agnostic - just look at our portfolio, it shows!
🌱 Pre-seed ($100K check size with up to $400K in follow-on funding)
📈 Growth focused - we only make money when founders make money. No fees
🤠 Texas based - apply from anywhere if you want to be here
👏🏻 Our portfolio of founders is diverse. Talent doesn't have a singular "look".

How much is the funding and are there fees?

Each startup in our main program receives a $100,000 investment from Sputnik ATX and up to $400,000 more in follow-on funding.

I'm Having Technical Issues With My Application

We host our application through a third party, Gust.com, so Sputnik staff is not able to help with technical difficulties. Please email support@gust.com

Why is the SAFE a 70% discount?

The SAFE document states that the "discount rate" is 70%.

To persons unfamiliar with legal documents and their particularlyindecipherable vernacular, this appears at first blush to be bait and switch onthe stated 30% discount rate.

The discount price is: 70% X the Standard Preferred Stock sold in EquityFinancing. Basically, it says 70% because that is the multiplier needed to endup with a 30% discount.

I'm not incorporated and/or don't have a co-founder yet. Can I still apply?

Yes, when in doubt, apply with what you've got. Proper formation / registrationjust has to happen before the program starts and is not necessary for theapplication. We require that our startups are registered as Delaware C-corpsbefore we wire funding. For now, fill out the SAFE with your currentregistration. If your startup is selected we will help you work it out.

Do I have to sign the SAFE note?

We only consider startups that sign the SAFE agreement (including pro rataagreement), unaltered, and turn that in with their application.

I didn't get in when I applied before. Can you tell me why?

Unfortunately our policy prevents us from sharing the reason for our investmentdecisions with applicants.

However if your startup makes it to the final round + interview, you will getfeedback from our team.

Can I email you my deck?

Sure, but you will receive something along these lines (see email below) inreturn. Please read up on what we do before reaching out and don’t senddecks toour PR team :)

How much is the funding and are there fees?

Each startup in our cohort get 100K in funding and up to 400K more in followon funding. We do not charge any fees -- the only way we make money is whenour startups make money (the exit)! Our investment dollars are in cash (wired inthe first week of the accelerator program) not in-kind services.

What's Included in the Program?

A little bit about what's included...(for both the main program and our EIRprogram)

Is there anything Sputnik won't fund?

We don’t fund:
-Real Estate*
-Franchises
-Restaurants
-Guns
-Pharmaceuticals or Drugs (medical norrecreational)
-Alcohol
-Porn
-Gambling
-MLM / Pyramid Schemes

Can I meet you before I decide whether Sputnik is the right fit?

The time commitment for the program will look something like this:Class meets twice per week in the mornings for two hours.

What is the time commitment of the program?

Applications for the Summer cohort are due around June 25th. We'll have 2cohorts per year; Winter applications will be due around December 25th.

Application and Program Calendar

These are only general guidelines and may vary slightly each cohort.

- Application Period for Winter: October-December
- Winter Cohort: January - April
- Application Period for Summer: May - June
- Summer Cohort: August - November

What does Sputnik ATX VC look for?

We like “maker-founders” (founding teams where at least one of the founders isalso the maker of the product - you're not outsourcing all development).

You should have MVP and at least one customer to be eligible to apply.We want to fund startups with the vision, determination and ability to become aunicorn.

Does Sputnik fund startups outside of Austin?

We require that businesses in the Sputnik ATX program be stationed in Austinfor the three-month program. Please only apply if your business is within a300-mile radius of Austin or is willing to move to an area within that radius andstay long-term. International founders: This is an in-residence program. Yourstartup must still relocate to Texas in order to be in the program. Make sure youhave your visa sorted prior to applying, as our decision process is relativelyquick (~3-4 weeks from the application deadline) and class starts shortly after.

Do I have to be there in person for the Interview and Program?

Interviews must take place in person in Austin with all founders of the team, noexceptions. Founders in the Sputnik ATX program are required to be in Austin(or within 300 mile radius of Austin) for the duration of the 13 week program.We prefer to fund startups that will stay in that radius after the program.