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Lexington, MA - June 25, 2003 - The Entrepreneurs Foundation of New England (EFNE) announced today that it will recognize five local companies for their work in the community, doing everything from teaching tennis to inner-city children, to educating youth about alcohol. The companies will be honored with awards at EFNE's annual Corporate Community Service Awards Breakfast, which will take place on Wednesday, June 25th from 7:30-8:30 AM at The Bay Colony Conference Center, located at 1100 Winter Street in Waltham, MA.
The EFNE will recognize the following four local companies who have demonstrated excellence in corporate community service: enterprise software provider Frictionless Commerce, for its work with the Margaret Fuller House; network storage supplier EqualLogic, for its involvement with Habitat for Humanity; online personal finance education portal MyStockOptions.com, whose President, Bruce Brumberg, donated his time to teaching tennis to inner city children; and enterprise software company MarketSoft, for its work with the Waltham Home for Little Wanderers.
In addition, special recognition will be given to Boston-based educational company Outside The Classroom for its contribution of an online alcohol education program to Gloucester High School. The program, called AlcoholEdu, takes students through a personalized experience with decision-making exercises that emulate real-life situations they may experience at college, and is designed to change individual behavior as well as the culture of drinking at schools and universities.
Used at hundreds of colleges and universities nationwide, AlcoholEdu presents research- and science-based information in a non-opinionated format about the medical and social effects of drinking and empowers students to make more informed decisions. The course is administered entirely online and enables administrators to deliver alcohol education to the entire student body easily and cost effectively. More than 150 seniors at Gloucester High completed the program this year.
The mayor of Gloucester, John Bell, and Gloucester High principal, Dr. Joseph Sullivan, will both be on hand to help present this award.
"We are proud to have so many participating EFNE companies taking a leadership role in a variety of community service initiatives," said Terry Segal, Executive Director of The Entrepreneurs Foundation of New England. "You can't put a price on the time and energy that these companies and their employees have devoted to helping their communities - it is truly inspiring."
The EFNE's mission is to encourage emerging high tech companies to give back to the community by donating pre-IPO stock options to the EFNE. At the time that the company goes public or is acquired, the stock value is realized and 75 percent of the proceeds are donated to a local non-profit recommended by the donor company.
About The Entrepreneurs Foundation of New England
The Entrepreneurs Foundation of New England is a non-profit organization comprised of entrepreneurs, venture capitalists, investment bankers, attorneys and bankers who have come together to encourage entrepreneurs and their emerging high-tech companies to give something back to their community. The EFNE was founded by Rick Burnes, co-founder of Charles River Ventures and Larry Weber, the high tech public relations innovator and CEO of Weber Shandwick Worldwide.
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