Originally published by BizWest.
FORT COLLINS — Innosphere, the incubator for startup and scaleup science and tech-based companies, is partnering with the Community Foundation of Northern Colorado and Pledge 1% to help Innosphere companies participate in long-term giving.
Pledge 1% has a philanthropic model that allows companies to pledge 1 percent of equity, annual profit, employee time or company product to nonprofits of their own choosing.
“We’ve seen a rise in the number of companies that want to make the community a stakeholder in their companies,” said Scott Sampl, Innosphere operations director, in a prepared statement. “It’s an easy way for entrepreneurs to give and it starts with an easy pledge form on the Pledge 1% Colorado website.”
The Community Foundation will help startups consider their community impact and decide how best to provide their philanthropy.
Innosphere does not take equity in the companies it supports. But companies that decide to pledge 1 percent of equity can choose to direct a portion of their funds to Innosphere’s 501(c)(3) to help the incubator launch new initiatives. The Community Foundation of Northern Colorado will work with all companies on their philanthropic goals, regardless of location. Innosphere companies not based in Northern Colorado could select to give back to other Colorado foundations such as the Community Foundation of Boulder County, the Rose Community Foundation or the Denver Foundation.
“We’re excited to offer every Innosphere company the opportunity to invest in philanthropy when there’s an exit,” Sampl said.
Founding partners for Pledge 1% include Salesforce, Altassian and Rally Software.