application Documents
There is one standardized document you'll need to upload when applying, below.
THE SAFE Note
The idea of a “SAFE note” comes from the YC funding model. YC is a great accelerator program, and their note was originally developed to avoid wasting time negotiating valuation when funding large groups of companies in cohorts.
Similarly, the Sputnik ATX SAFE note enables us to focus on adding real value to what you do, and we agree to figure out the value later when you raise additional funds in your next formal funding round.
The executed (filled out and signed) SAFE is required to be considered for the Sputnik ATX program. Please upload it with your application before you submit it. More on that here.
IMPORTANT FAQ :
The Discount: The SAFE document below states that the "discount rate" is 70%. To persons unfamiliar with legal documents and their particularly indecipherable vernacular, this is sometimes confusing as we state that our SAFE includes a “30% discount”. However; please make sure to read the definition in the SAFE document of "discount price" and how it is calculated. The discount price is: 70% X the Standard Preferred Stock sold in Equity Financing. Basically, it says 70% because that is the multiplier needed to end up with a 30% discount.
Please Note: The SAFE includes a valuation cap as well, and our option to add additional funding. Read it. Understand it. While inspired by YC’s SAFE, our document is not identical to theirs.
Click below to download the SAFE document if you are applying to the accelerator program. This SAFE includes:
$100,000 investment at a $3,000,000 valuation cap with a 30% discount
Option to invest up to $100,000 more at same terms as above
Option to invest up to $300,000 more with no valuation cap at a 30% discount
Below is the SAFE for the second option of up to $300K. Do not upload this with your application. This is just for you to view ahead of time for transparency.
Business Plan
A free business plan template to get organized on your business: