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Boulder-based Techstars is encouraging its 500+ portfolio companies to pledge 1% of equity, product, or employee time for philanthropic causes through its new partnership with Pledge 1%. The accelerator announced the partnership this week, taking the first step by pledging the 1% themselves. The corporate philanthropy movement is dedicated to making the community a key stakeholder in every business.
“I think everybody in Colorado and in startup communities around the world wants to pledge a portion of their equity or their profits when they’re successful, and it’s really more the mechanics of how to do it that gets in the way,” Techstars co-founder David Brown said. “I think there will be huge opt-ins [from companies] based on the entrepreneurs we’ve spoken to.”
Companies can choose the cause, focus area and nonprofits to receive the realized value of their resources based on their community goals and company and employee interests. The Pledge 1% movement is fully funded by its founding partners, so all realized benefit from pledges goes to the causes that pledgees support.
Nicole Glaros, Partner in Techstars Ventures, is on the board of Entrepreneurs Foundation of Colorado and has been closely involved in rolling out Pledge 1% nation-wide.
"I would encourage everyone in the tech community to participate," Brown said. "We hope that all organizations, tech or non-tech, big or small, can participate. It's a great, easy way to give back."
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