Waveset is a prime example of the impact that an early-stage company can have on its local community.  Early on, Waveset made the decision to share the upside of its business success with the community.  In 2000, Waveset donated stock options to purchase 18,000 shares of its common stock to the Entrepreneurs Foundation of Central Texas (EFCT). 

By donating early after it was organized and funded with venture capital, the company donated stock options with a relatively inexpensive exercise price, about $0.18 a share. In December 2003, Sun Microsystems acquired Waveset for over $153 million dollars.  In less than four years, the donated stock options generated over $175,000 in proceeds for local charities in Central Texas. 

Through its donor-advised fund at the Entrepreneurs Foundation of Central Texas, Waveset was able to donate the proceeds to over 10 local charities.  However, even before the donation of equity translated in proceeds, Waveset’s management engaged its team members in EFCT activities.  “When my partners and I were starting Waveset, we recognized the right corporate culture was key.  The Entrepreneurs Foundation of Central Texas community involvement programs helped us build the culture that created loyalty,” recalls Mike Turner, Waveset’s founder and CEO.