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GE Launches Ecomagination Challenge

General Electric is announcing the launch of a $200 million new green fund. The GE ecomagination Challenge: Powering the Grid, is aimed at advances in green grid technologies. This is yet another big-think idea from the commercial world, another step in the right direction.

The fund is launching in partnership with VC funds Emerald Technology Ventures, Foundation Capital, Kleiner Perkins Caufield & Byers, and RockPort Capital. The fund is aimed at Renewables, Grid, and Eco Homes & Eco Buildings. The $200 million capital pledge of GE and its partners will be invested globally into promising start-ups and ideas. The idea is to help bring these new ideas to market by providing businesses and individuals with the opportunity to secure growth capital through GE investment, including investment by participating venture capital firms.

Entries will be evaluated as candidates for both a potential future commercial relationship as well as a $100,000 innovation challenge award, over a ten week period.

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