OtherTripwire’s Participation in OEN’s Entrepreneurs Foundation of the Northwest Generates $500,000 to support Oregon Nonprofit Causes
Tripwire charitable fund created from participation in Entrepreneurs Foundation of the Northwest to be administered by the Oregon Community Foundation
Portland, Ore. — (May 15, 2012 ) — The Oregon Entrepreneurs Network’s Entrepreneurs Foundation of the Northwest (EFNW) is pleased to announce the generation of more than $500,000 in community support through its partnership with Tripwire, Inc. and the creation of Tripwire’s company-directed fund with the Oregon Community Foundation.
“It is very gratifying to see EFNW member companies realize their dream of giving back to the community,” said Linda Weston, OEN Executive Director. “Our business model enables early-stage and emerging growth companies to partner with EFNW by granting equity interest and in return, EFNW assists them with developing their community giving and corporate philanthropy program. When a liquidity event occurs, the equity shares held by EFNW are cashed out and the funds are provided to designated community organizations of the member company’s choice. It is a win/win situation for the companies and for the communities in which the companies reside.”
“Tripwire is extremely pleased to have an opportunity to formally give back to the Portland community,” said Jim Johnson, Tripwire CEO. “Tripwire has a firm commitment to serving our local community and by partnering with EFNW/OEN we have been able to donate thousands of dollars and hundreds of hours of community service by Tripwire employees. We take great pride in being a strong and contributing member of the Oregon community and thank EFNW/OEN for assisting in our philanthropic efforts.”
“It’s very exciting that Tripwire is showing such a strong commitment to community service,” said Max Williams, OCF President and CEO.“The liquidity event provides a new opportunity for Tripwire to support the causes employees care about. This is good news for Oregon philanthropy.” (For more information about OCF, please visit: www.oregoncommunity.org.)
About Tripwire, Inc.
Tripwire is a leading global provider of IT security and compliance automation solutions that help businesses, government agencies, and service providers take control of their physical, virtual, and cloud infrastructure. Thousands of customers rely on Tripwire’s integrated solutions to help protect sensitive data, prove compliance and prevent outages. Tripwire VIA, the integrated compliance and security solution delivers best-of-breed file integrity, policy compliance and log and event management solutions, paving the way for organizations to proactively achieve continuous compliance, mitigate risk, and ensure operational control through Visibility, Intelligence and Automation. Learn more at www.tripwire.com and @TripwireInc on Twitter.
About OEN’s Entrepreneurs Foundation of the Northwest (EFNW)
OEN’s Entrepreneurs Foundation of the Northwest (EFNW) offers a unique model for early-stage companies to create philanthropy and give back to the communities in which they do business. Companies join EFNW by granting equity and in return, receive assistance with their community engagement efforts. When the company has a successful exit, EFNW sells its shares and distributes the profits for community benefit in consultation with the member company. By partnering with EFNW, young companies have the potential to leverage the value of a pre-liquidity donation into meaningful philanthropic support for the community. Since the program’s founding in 2001, EFNW participants have returned over $10 million in cash, volunteer time, and goods and services to our local community. (http://oen.wpengine.com/efnw_oen.aspx).
Entrepreneurs Foundation of the Northwest is a program of the Oregon Entrepreneurs Network (OEN) and one of 11 world-wide affiliates of the Entrepreneurs Foundation headquartered in Silicon Valley, California. Founded in 1991, OEN is the largest entrepreneur assistance organization in Oregon and SW Washington. OEN fosters the flow of entrepreneurial ideas, services, and capital to entrepreneurs and helps connect emerging Northwest businesses to growth-stimulating expertise and valuable resources. (www.oen.org)
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Originally published by Jeff Fishburn on May 15, 2012
