Press Releases
August 24,
2001 |
Council for
Entrepreneurial Development |
CED Announces Six New Endowment Commitments from North Carolina Entrepreneurs and Investors
Total Surpasses 100
August 24, 2001, Research Triangle Park, NC - The Council for Entrepreneurial Development (CED) is proud to announce the addition of six new commitments to its Entrepreneurial Stock Endowment Campaign. The endowment fund, established in spring of 1999, has now surpassed 100 total pledges from local leaders in the information technology and biotechnology communities.
The recent commitments from high-growth entrepreneurs in the greater Research Triangle area include Jud Bowman, Taylor Brockman and Eric Harber of Pinpoint Networks, Inc.; Vivek Wadhwa of Relativity Technologies; Bill Warner of LiveWire Logic, Inc.; and CED Board member Jack Sheffield of Deutsche Banc Alex. Brown.
This unique initiative allows entrepreneurs and early stage companies to pledge illiquid stock to CED's endowment fund. Since early stage companies often operate under considerable cash restraints, the pledge of early stage stock permits the entrepreneur to participate in giving back to CED with something of great value--a pledge of support from their personal shares of the company that they are growing.
Just prior to an IPO or sale, the entrepreneur transfers the pledged stock to CED. The stock will then be liquidated immediately and deposited into an endowment fund to benefit CED's continuing efforts.
"CED helped me network and form business relationships with people whom I never would have met if it were not for the organization," said Jud Bowman, president and co-founder, Pinpoint Networks. "Donating stock to CED was something that I could do to give back to the entrepreneurial community."
Donors receive tax write-offs for the fully appreciated value of the transferred stock, making it a win-win situation for the entrepreneur, for CED, and for the future of entrepreneurship in the Triangle area.
About CED
The Council for Entrepreneurial Development, located at the CED Entrepreneurship
Center in Research Triangle Park, N.C., was formed in 1984 to stimulate the
creation and growth of high-impact companies in the greater Research Triangle
region. CED provides education, mentoring and capital formation resources to
new and existing high-growth entrepreneurs through annual conferences, seminars,
workshops and monthly programs on entrepreneurial management and finance. CED
is the largest entrepreneurial support organization in the nation with more
than 5,000 members representing1, 300 entrepreneurial companies, financiers
and professional firms CED encourages all entrepreneurs who are interested in
learning more about this effort, to contact Tim Tompkins at CED (919) 549-7500
ext. 103.
For membership information, call (919) 549-7500 or visit CED's Web site at www.cednc.org.