The OWF is an organization modeled after the Apache Software Foundation; we wanted to use a model that has been working and has stood the test of time.
When we started the ASF, we wanted to create the best possible place for open source developers to come and share their work. As time went by, it became apparent that the code wasn’t the only problem – standards were, too. The ASF board (and members, I’m sure) debated the subject several times whilst I was serving on it, and no doubt still does, but we always decided that we should focus on a problem we knew we could solve.
So, I’m extra-happy that finally a group of community-minded volunteers have come together to try to do the same thing for standards.