Austin—Sputnik ATX, a startup accelerator that launched last year, has picked a group of five startups that will be the second class of businesses to run through the program.
The early stage companies include a software-as-a-service business that connects teachers with jobs at school districts, a cosmetics maker, and other software companies (read about each business below). The startups each receive $100,000 for being selected to participate in the three-month program, in exchange for future equity if the business gets further funding. (More on how that works here.)
Sputnik is framed in the likeness of Silicon Valley incubator Y Combinator, and focuses on product development, using a network of executives and investors to mentor the startups that join it, co-founder Oksana Malysheva previously told Xconomy. The five companies will present during a demo day at the end of the 12-week program. Sputnik plans to have a fall class, and will look for entrepreneurs that are located, or are willing to relocate, to within 300 miles of Austin.
The summer Sputnik class of five startups includes:
—Software-as-a-service provider TeacherTalent, which connects teachers with school districts. Sputnik says 50 school districts use TeacherTalent.
—Lamik sells vegan cosmetics line directed toward women of color, which Sputnik says contains natural and organic ingredients.
—AI Maps is aiming to streamline how oil and gas companies perform their jobs, according to Sputnik.
—BoardMaps makes software that aims to help people prepare for board meetings, and 250 boards and committees currently use it, according to Sputnik.
—You can invest as little as $100 in startups, real estate, and pre-IPO companies with Newchip, which aims to connect investors and entrepreneurs around the world, Sputnik says. Newchip closed a $2 million seed round of financing in June, according to a news release.
The first Sputnik class had four companies. They were:
— Financial services and retail company called Pei lets users gets cash back or Bitcoin for purchases he or she makes.
—Redenim is a personal styling service taht uses A.I. and analytics to send customers jeans to their homes.
—Backtracks, which gives data analytics to podcasters.
—Meowtel, which makes an app to help people find a cat sitter.
