$100,000 funding for your best ideas to reduce our carbon footprint.
GE’s ecomagination Challenge: Low Carbon Solutions is an open call to action for businesses, entrepreneurs, innovators and students in Australia & New Zealand with breakthrough ideas for reducing our carbon footprint.
The Challenge will provide each of 5 winning entrants with an A$100,000 cash Innovation Award.
Selected ecomagination Challenge entrants may also be offered the opportunity to develop a commercial relationship with GE through. Possible outcomes could include:
The Challenge, launched in collaboration with leading Australia & New Zealand venture capital firms Cleantech Ventures, CVC Limited, Greenhouse Cleantech, MH Carnegie & Co and Southern Cross Venture Partners, is part of GE’s ecomagination initiative, a global commitment to build innovative clean energy technologies and will help fund the most promising ideas.
The theme for the GE ecomagination challenge in Australia & New Zealand is ‘Low Carbon Solutions’. It is an open call to action for businesses, entrepreneurs, innovators and students in Australia & New Zealand with breakthrough ideas for reducing our carbon footprint.
We are looking to discover globally applicable, breakthrough technologies, products and services across 5 broad categories:
How will your technology, product or service contribute to reducing carbon emissions whilst generating commercial return?
Submissions can be made any time before 5pm AEST on Friday 30th November 2012 at the following web address:
All entries should include a clear, detailed proposal describing an innovative, original home energy technology or process.
A video is optional
GE and its Challenge partners will review and evaluate all entries and post a reasonable amount of information about each publicly on the challenge.ecomagination.com/ANZ site. GE makes no claim to ownership of your entry to the Challenge or any intellectual property that it may contain. By submitting an Entry, you grant GE certain limited rights to publish parts of your entry and use your trademarks as set out in the Challenge terms and conditions. Visitors to the Challenge website will also have the right to access some information relating to your Entry.
Representatives of GE, its Challenge partners and other individuals with specialist experience will form an Evaluation Committee to consider the granting of Innovation Awards and possible commercial relationships with you or your company.
The Evaluation Committee will select entries to receive cash Innovation Awards. The Evaluation Committee will evaluate each entry based on merit; reliance on science and engineering fundamentals; innovative character; potential to create significant carbon emissions reduction; commercial feasibility in light of applicable market dynamics; and other factors deemed appropriate by the Evaluation Committee.
In early 2013, GE will announce the five winners of the Innovation Awards.
Separately, GE and its Challenge partners will consider whether to pursue commercial relationships with any of the Challenge entrants. This process is distinct from the selection process for Innovation Awards, and is at the sole discretion of GE and its Challenge partners.
Potential commercial relationships include:
GE will present each of five innovation challenge award recipients with $100,000 in cash, for a total Award Pool of $500,000, to acknowledge these entries as examples of outstanding entrepreneurship and innovation.
The ecomagination Challenge is focused on finding new and more intelligent Low Carbon technologies and processes, as well as better business models. When preparing your submission, please consider:
Keeping these three criteria in mind will help you formulate an entry that stands the best chance of being noticed.
Individuals over the age of 18 who are permanent residents of either Australia or New Zealand and all companies that are registered in either Australia or New Zealand may participate in accordance with the Challenge Terms and Conditions. One or more individuals and/or companies may collaborate as a team to submit a combined entry. (GE employees are not eligible to enter.)
If you are participating as a team, one designated team leader must be solely responsible for all activities related to the competition.