Tuesday, March 24, 2009

Ontier Gives Entrepreneurs Foundation Options

Portland-based Ontier said Tuesday that it has donated 250,000 shares of its options to the Entrepreneurs Foundation of the Northwest, an effort to help early stage companies give back to the community. According to Ontier, the shares came from both the firm, as well as board member Les Fahey and CEO Sebastian Rapport. The Entrepreneurs Foundation of the Northwest holds stock options from startups and others, until those companies are acquired or otherwise gain liquidity; the profits are then distributed to local nonprofit groups. Other local startups who are part of the foundation include Earth Class Mail, Elemental Technologies, Insitu, Jive Software, Kryptiq, and Tripwire.