The GE Ecomagination Challenge, of which we’ve been highlighting interesting entries for the last several weeks, drew to a close today in regards to new entry submissions. The theme of this particular Challenge, focused upon energy innovations in the home, harvested a horde of unique ideas during the open call period.
GE said it now has to “select five innovation award winners from the 800+ entries we’ve received over the last eight weeks as well as the 1,000+ home ideas uncovered from the first Challenge.” As was mentioned when this latest Challenge first began, these five award winners will each be given $100,000 to fund their dreams, as well as being hooked up with what is described as potential “commercial relationships and other partnership opportunities.”
Tom Lore, GE’s director of the Ecomagination Challenge, noted in a blog post that he hopes visitors will continue to come to the Ecomagination website to “engage, comment and collaborate” on the ideas presented by the many budding cleantech entrepreneurs. Judging results, based upon a panel of “GE executives and leading academics and technologists,” will be announced in April.
To give perspective on how big of a deal the Ecomagination Challenge can be to those who win, consider this: GE said in the last Challenge, which focused upon powering the grid, not only were five winners each given $100,000, but venture capital partners also said they would invest $50 million in “leading grid technology companies” as part of a previously announced $200 million Ecomagination Challenge financial commitment.
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