GE’s innovator community
The Financial Times website posted an article by Henry Chesbrough which describes how General Electric figured out a way to be a leader in the green energy sector – making the most of its vast internal R&D expertise while integrating its existing energy efforts with those outside the company. In 2010, to tap into the start-up activity in cleantech, GE and a group of VC partners started an open innovation initiative called the Ecomagination Challenge, in which businesses, entrepreneurs, innovators and students competed for funding totalling $200m with ideas on improving the world’s energy future.
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