"open source is a catalyst for innovation"
I am extremely sceptical☆ about the motives of any corporation involving itself in any activity, for anything other than the narrowest self interest. Goes ten fold for North Americans.
If you want to catalyse innovation you really have to cast your bread upon the waters.*
So much now mainstream open source started as a tiny, apparently boutique project in some backwater of the internet. Linux itself could fit that description.
While supporting projects that directly benefit your enterprise is clearly comprehensible, less so the idea that a proportion of that support might be directed to more diffuse goals like funding foundations that support smaller, less recognisable projects that might beneficially affect a whole range of projects including those of the first instance.
Scratch any Linux (and BSD?) distribution and you will find any number of components that lack a current maintainer - the XZ fiasco might be the clue stick that crystallises the inherent hazards of unmaintained software.
☆ I strongly recommend burning all wooden horses outside the city's walls. :)
* Eccl. 11:1 qv