Sputnik ATX Selects Four Startups for its Inaugural Class

Sputnik ATX announced this week it has chosen four startups to join its inaugural class for its accelerator program.

Those startups include YouPei.me, a cash-back platform for credit and debit cardholders to get Bitcoin rewards with more than 5,000 partner brands, Redenim, a data analytics platform for women to find the perfect pair of jeans, Backtracks, a podcast analytics and hosting platform and Meowtel, a platform to connect cat owners with pet sitters.

The Austin-based Sputnik ATX received 207 applications for its program from the U.S. and nine other countries.

“We not only selected startups with innovative concepts, we selected entrepreneurs with outstanding passion and grit,” Oksana Malysheva said in a news release. “The founders we chose exhibit the skills and vision necessary to defy the odds. We are excited to partner with these creators, innovators, trailblazers, and entrepreneurs to get their ideas off the ground and to the public where they can change the world. We are confident that the Sputnik ATX program will help these entrepreneurs reach their full potential and will continue to drive innovation in Texas.”

Each startup gets $100,000 in seed stage investment in exchange for an equity stake in the company by Sputnik ATX. The startups will participate in a three-month program that kicked off this week. The program includes classes, mentoring and funding information. Mentoring is focused on helping the entrepreneurs increase product and market fit and increase sales.

The program culminates with a Demo Day in which the startups pitch to a panel of investors for additional funding.

“At Sputnik, we believe early-stage investing is a team sport,” Joe Merrill, co-founder of Sputnik ATX, said in a news release. “In other words, entrepreneurs only succeed when they have a collaborative network to support one another. That’s why at the end of their time with us, we want our cohort members to graduate with a solid network of mentors, peers, and other investors.”

Sputnik ATX plans to open its next application round for its summer cohort in May.

“Entrepreneurs living within a 300-mile radius of Austin (including San Antonio, Dallas, and Houston), or those who agree to move their businesses within that radius if accepted into the program, are eligible to apply,” according to a news release. “Applicants are required to have a minimum viable product and at least one paying customer.”

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