Think of it as a lottery. If the company takes off, your lottery ticket pays off, until then it's worth nothing.
And the charity that gets the lottery ticket doesn't even have to pay for it in the first place.
This would only make sense if the charities are investing in the startups. If the charities paid to invest then it makes sense for the company as they are just another investor.
If you're handing out free lottery tickets it doesn't make sense for the lottery.
