UK tech entrepreneurs to give 2% of proceeds to charity following an exit

Founders from DueDil, Zopa and Huddle among 53 names signed up to Founders Pledge with £18.5m committed so far

Leading entrepreneurs behind some of the UK’s fastest growing tech and digital start-ups have committed to give a minimum 2% of their personal proceeds to social causes following an exit.

Damian Kimmelman of DueDil and the founders of Huddle and Zopa are among 53 names that have signed The Founders Pledge – an initiative set up by Founders Forum for Good to “bring about global change for good” – with an estimated £18.5m committed so far.

The co-founder of Tapdaq, Ted Nash, and the founders of Swifkey and Farfetch have also pledged to donate a percentage of their proceeds to charity on the sale of their businesses.

The Founders Forum for Good believes the scheme has the potential of raising £22m a year for the social sector on the back of figures that show there were 155 UK exits between 2010 and 2014 raising an average of £183m each.

David Goldberg, director of Founders Forum For Good, said of the initiative: “Over the last 10 years, the tech and digital sector has grown an inspiring group of founders that are building  game-changing businesses.

“Through the Founders Pledge, this new generation of entrepreneurs has a mechanism to give back apply their disruptive mindset to be a change for good. The initial level of commitment has already been fantastic and we are looking forward to seeing how this drive for change grows and expands in to a global movement.”

On signing the pledge, DueDil CEO and co-founder,  Kimmelman, commented:


Building a website for your business idea is easier than you might think. Our online tool ranks the top website builders that offer free trials.

“I strongly believe that philanthropy is not just about writing a cheque to charities, just as venture capital or private equity is not about writing cheques to start-ups.It requires a deeper level of engagement.

“Although start-up founders are typically not in the position to contribute financially to charities, by pledging a portion of their personal proceeds to social causes, they start considering it from an early stage.”

Comments

(will not be published)