Innovation Blog

“T’mura” – An Innovation in the Way Innovators Share, or,

    Find the Next Bill Gates and Place Your Bet

By Shlomo Maital

  “T’mura” (Hebrew for ‘reward’ or ‘compensation’) supports worthy Israeli charities in an innovative way.   Founded in 2002 by Yadin Kaufman and Baruch Lipner, Tmura solicits grants of stock options from start-ups, and uses the proceeds to fund worthy organizations, when a few of the start-ups achieve profitable ‘exits’ (acquisition by larger, usually foreign, firms).

   So far, Tmura has collected in this fashion over $3 m. for 30 NGO’s (nonprofit organizations) in Israel, including those that deliver educational programming for social justice in high schools, that provide computer centers in periphery towns, Big Brothers/Big Sisters of Israel, and others.   Temura also raised $3.5 m. through grant-matching programs, in which entrepreneurs who sold their companies give part of their newfound wealth to T’mura, which matches the donation. 

    “What the country [Israel] needs now is for the leaders of the start-up nation to move into social entrepreneurship,” said John Medved, founder of Vringo, a start-up.  “We’ve got the tech and business entrepreneurship down. But we need to unleash the same energies and same kind of creativity and passion that we displayed for start-up businesses for start-up social ventures”.

       T’mura is based on a similar American idea called Entrepreneurs Foundation.

    Entrepreneurs Foundation (EF) was founded in 1998  to make it easy for U.S. companies to meaningfully engage in their communities through strategic corporate citizenship and corporate social responsibility programs. Through Entrepreneurs Foundation, over 880+ companies in the United States and Israel have created corporate foundations and community benefit programs.   In partnership with Entrepreneurs Foundation, companies leverage their corporate assets to create customized philanthropy and community programs that meet corporate objectives and serve social needs. Entrepreneurs Foundation provides expertise, resources, best practices and a network to companies so that maximum corporate and community benefit is achieved.   Entrepreneurs Foundation provides a unique model for pre-public companies to invest in their communities by seed funding corporate foundations with pre-IPO stock.  See http://www.efbayarea.org/

   Does your country have its own version of T’mura?  Why not start one?  Identify promising start-ups, find those with social consciences, and ask the founders to provide a contingent give-back-to-society—contingent, of course, on ultimate success.  You only need one start-up to succeed, to generate substantial funding.  Find the next Bill Gates – and place your bets.

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