Certainly interesting to see GE joining the crowdsourcing challenge community.
GE announced a $200 million open innovation challenge that seeks breakthrough ideas to create a smarter, cleaner, more efficient electric grid, and accelerate the adoption of more efficient grid technologies. GE Chairman and CEO Jeff Immelt unveiled the challenge, the “GE ecomagination Challenge: Powering the Grid.”.
The global challenge invites technologists, entrepreneurs and start-ups to share their best ideas and come together to take on one of the world’s toughest challenges – building the next-generation power grid to meet the needs of the 21st century. The challenge is one of the largest ever and is open at www.ecomagination.com/challenge.
What is significantly interesting is that GE did this in partnership with a bunch of venture capital companies. Not sure if I have seen this before. The Challenge was launched in collaboration with venture capital firms Emerald Technology Ventures, Foundation Capital, Kleiner Perkins Caufield & Byer and RockPort Capital, and Chris Anderson, Editor-in-Chief, Wired magazine. So if the ideas are relevant, there is significant funding there from the VC community to power (no pun intended) them ahead.
An interesting twist! I wonder who owns the IP?