Radish joins about 50 startups as EFCO members. Supporters pledge a portion of their founding equity or profits to the foundation.
“Even as an early-stage company, we can plan to give back to our community by gifting a portion of our founding equity to EFCO. It’s a positive way to adhere to our core values and commitment to the Colorado community,” Radish’s chief executive Theresa Szczurek said in a press release.
EFCO was launched in 2007 by area entrepreneurs, venture capitalists, lawyers and the Community Foundation Serving Boulder County. The intent was to give members in the startup community a way to back worthy civic organizations even before they hit it big.
Boulder-based companies such as Rally Software Development Corp. and TechStars have representatives on the foundation’s board of directors.
The foundation is managed by the Community Foundation, and its local partners are the Rose Community Foundation and Denver Foundation, which are both Denver-based organizations. It has made more than $500,000 in grants to Front Range nonprofits since its founding.