Tag Archives: ecomagination challenge

Best New Green Business Ideas of 2010

innovation bulb on handCompanies have tried different approach for business growth and beating competition. Most have patented anything that might be commercialized; others adopted sampling products and step by step introduction to products; some spend millions in advertising. The list is just so long, however internal methods seems to be lacking the “market value” that is why most businesses scout for innovations outside their wall.

Take for instance General Electric’s Ecomagination Challenge, a contest looking for companies, inventors, and students with the best clean-technology ideas and come together to building the next generation power grid to meet the needs of the future. GE [NYSE:GE] along with Emerald Technology Ventures, Foundation Capital, KPCB and Rockport Capital are investing $200 million with the best idea entered in the contest. Continue reading

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GE to Pledge $200 Million Investment on Power Grid Technology

General Electric to turn the tide of sustainable energy sourceGE and its partners are launching yet another project to increase Power Grid Technology by working together with key industries that are interested in renewable energy. Some of the key players are Emerald Technology Ventures, RockPort Capital, Foundation Capital, Kleiner Perkins, and Caufield & Byers. Jeff Immelt, GE Chairman and CEO, said that GE is putting $200 million in capital investment to fund ideas that will pave the way for the creation of technologies that will support energy generation in renewable energy sector.

The challenge entitled “GE ecomagination Challenge: Powering the Grid” aims to attract scientists, businessmen, newbies and old ones to collaborate and share their insight to create the next generation power system that will help the demands of people of the current century. Immelt believes that pushing innovation at the heart of scientists and investors and policy makers will accelerate efforts to improve how we use energy and the way we generate it. The company is seeking qualified partners that will join their ranks in discovering new ways to power up the grid to create a cleaner energy source that will be used in the future. Continue reading

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