General Electric is inviting clean-tech geniuses to come out of the energy closet. The company has launched a $200 million challenge to businesses, entrepreneurs, innovators and students with novel ideas on how to build the next-generation power grid.
Called GE Ecomagination Challenge, the project is a partnership between GE and venture capital firms, including Emerald Technology Ventures, Foundation Capital, KPCB and Rockport Capital.
The competition is split between three categories: Renewable Energy, Grid Efficiency and EcoHomes/EcoBuildings.
Selected entries will be given the opportunity to develop a commercial relationship with GE through investment, validation, distribution, development and growth. Applications are open now and close on September 30.
Each entry must include a clear, detailed proposal describing an innovative, original smart grid technology. English is the lingua franca of the project and GE asks applicants to disclose whether they already have filed a patent application or received a patent on any part of the project submitted. Information about the applicant, his/her team and how the idea came up is also welcome.
For more information, go here.
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