That's interesting; I have an Atlas invite that I'm about to use but I do not have a workable business...yet. I didn't even realized they "rejected" people, I thought it was more of a waiting list type of thing.
With all of the venture firms in the "network" I'm wondering if there is anything suspect with incorporating through them (ie. Equity percentages) but I'm probably just being paranoid. Feel free to share any detail after you use your invite.