Tmura: The Non-Profit that Uses Israeli Startup Exits to Do Good
Original article by Roi Carthy from :TechCruch
Tmura, an Israeli non-profit, is closing on its 10-year anniversary. In a decade’s worth of work it has contributed a whopping $6.3M+ to educational programs.
The extraordinary amount isn’t the result of efficient fundraising, rather, of having been allotted small amounts of options by early-stage startups. Tmura then exercises these options when the startups see a liquidation event.
Baruch Lipner, Executive Director at Tmura, attributes the good fortune these companies have seen to a combination of karma and an improved corporate culture in participating startups. Why argue with success, right?
Over 100 educational organizations have received contributions from Tmura in its 10 years of activity. These include:
- College4All: An enrichment program focusing on students with potential to excel.
- Krembo Wings: A national youth movement for children with special needs.
- Machshava Tova: Computer centers in peripheral areas aimed at ‘narrowing the digital gap’.
- Shiur Acher: Volunteers from the hitech industry delivering lectures in schools.
Participating companies can decide themselves to which project(s) funds from their exits are allocated, or allow Tmura to do the choosing itself.