Status change focuses on vision and impact in higher education
Boca Raton, FL,
Tower Education Technologies, Boca Raton’s start-up higher education technology corporation, has evolved its status from a c-corp to a public benefit corporation (PBC). The change reflects the organization’s vision of enabling education opportunities for all through innovative yet low-cost technology.
Though still a traditional for-profit business, a benefit corporation has a commitment to increased transparency, greater accountability to their mission, and a focus on principles of purpose, also known as social impact. The ultimate goal of a benefit corporation is to increase its value to all stakeholders, not just investors or shareholders.
“From the inception of Tower, we wanted to focus on what good we could do in the world. Serving higher education provides an obvious path to do so, as their mission directly impacts lives,” said Benjamin Shank, Chief Executive Officer. “What we’ve come to realize, though, is that Tower’s altruistic nature really is suited to the definition of a benefit corporation. We conduct ourselves with transparency and hold ourselves to a higher standard of accountability for the sake of our employees and customers.”
Having completed the legal requirements to change to a benefit corporation is the first step to a larger plan, according to Shank. He plans for the company to fulfill the requirements to earn the Certified B-Corp status, of which only 3,500 companies world-wide have done. “We understand the budget impact to institutions trying to decide between paying for software subscriptions or offering better programs or more services to educate their students,” stated Shank. “We take the role of being a platform provider seriously,” he continued. “Tower Education Technologies believes that we have a responsibility – and opportunity – to provide innovative technology at a much lower cost to colleges and universities around the globe. That’s where we will make our impact.”
About Tower Education Technologies
Tower Education Technologies (Tower) was founded with the mission to build innovative technology to impact higher education institutions in a positive and productive way. The company’s flagship product, InspirED™, is the only higher education platform that natively integrates a student information system, ConnectED™, a learning management system, BlendED™, and a professional engagement solution, CollaboratED™. It also combines operational highlights, performance reports, CRM, and analytics.
In 2017 Tower formed a strategic partnership with American Higher Education Alliance (AHEA). Together these organizations support institutions of higher education so they can expand their footprint and make a greater impact in faculty development, and their students’ academic and career success. As a result, the InspirED platform has empowered students and institutional stakeholders at colleges and universities in Malaysia, Hong Kong, the Philippines, China, Latin America, and North America.