GE’s ecomagination Challenge: An Experiment in Open Innovation

GE’s ecomagination Challenge: An Experiment in Open Innovation

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Abstract

The GE ecomagination Challenge case study takes place in 2010 when Beth Comstock, chief marketing officer and senior vice president of General Electric is planning a meeting with GE’s CEO, Jeffrey Immelt. The pair plan to discuss the company’s ecomagination Challenge, an open innovation process that solicited energy ideas from individuals and start-ups to identify potential ventures for in green and renewable energy areas for GE to invest in. Pursuing this approach required several organizational processes that were new to GE. For one, they chose to partner with four outside VC firms, and pool the due diligence process with them and co-invest with them. For another, they chose to receive submissions to the ecomagination Challenge through a publicly available website. Nearly 4,000 submissions were received, ...

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