Tag Archives: GE

Ideas on Smartgrid, anyone?

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?

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Open Innovation Initiative in Japan

Interesting to see governments in various parts of the world actively supporting innovation – more specifically, Open Innovation. General Electric has just announced it participation as a founding member of a new Japanese initiative to significantly further innovation in that country in the areas of healthcare, clean energy and the environment. Specifically, the new venture is based on Open Innovation. A total of $9.5 billion will be available as assets of the fund. Read more.

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