Create, Connect, Use – The GE Ecomagination Challenge
The GE Ecomagination Challenge is conducting an experiment – in how we can find new ways of “powering the grid.”
- The idea – lets put together businesses, entrepreneurs, innovators, and students and have them share their ideas on how to build the next-generation electric power grid. Pair that up with some big venture capital funds (Emerald Technology Ventures, Foundation Capital, KPCB and Rockport Capital) and see what happens.
- The (short-term) outcome – fund 5 companies to jumpstart their technology commercialization processes ($100,000 per company… at first)
- The hope – that these funds will be the catalyst that these companies need to succeed in changing how the world uses energy in “powerful new ways.”
For this competition, GE issued three challenges.
- Challenge 1: Create – Renewable Energy – Making the best use of the energy created by renewable resources is critical to a reliable supply of affordable energy. What kinds of technologies or processes do you think will maximize the penetration of renewables into the grid? Learn More
- Challenge 2: Connect – Grid Efficiency – In terms of technology, processes and policy, what do you think are the best means to help us realize greater gains in grid efficiency and outage management? Learn More
- Challenge 3: Use – EcoHomes/EcoBuildings – What new technologies, processes or business models can help consumers use energy more wisely and improve our energy balance?
From the responses they received in these challenges, a panel of judges selected 5 innovation winners:
- Capstone Metering LLC (Carrollton, Texas) – website
- ElectricRoute (Salem and Hollis, New Hampshire) –
GridON (Givatayum, Israel)
- IceCode (West Lebanon, NH) – website
- Winflex (Kiryat Yam, Israel) – website