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[[$200 million ecomagination challenge Now Open]]
[[$200 million To improve the way we create, connect, use power] ]
[[Jeff Immelt, GE Chairman and CEO] We're partnering with four of the biggest venture]
[capital firms in the clean energy space, or in the U.S.--one in Europe. ]
[Again, we think that the combination of GE]
[investment and venture capital investment is going to allow us]
[It's going to allow us to accelerate new ideas.]
[It puts us shoulder to shoulder with some of the smartest tech]
[investors, and we can use, what I call, the industrial]
[clout of GE to bring technologies to this marketplace faster. ]
[[Narrator] GE announced the challenge at a San Francisco event]
[along with its four venture capital partners.]
[Emerald Technology Ventures, Foundation Capital,]
[Kleiner, Perkins, Caufield, and Byers, and Rockport Capital Partners are all backing ]
[the challenge to build the new grid.]
[[Chris Anderson, Editor-in-Chief Wired] The Smart Grid is a huge opportunity, but it's also ]
[the most complicated market you can imagine. ]
[It's software, it's hardware, it's national deployment, ]
[I think the great thing is the VCs can surface ideas and accelerate them.]
[GE knows how to take things to market.]
[[Narrator] Ideas from companies and individuals can be entered through the ecomagination.com]
[website for the next 10 weeks. ]
[A panel of experts will evaluate the entries and consumers]
[[Vote, comment & submit ideas at: www.ecomagination.com/challenge]]
[Winners will have the opportunity to secure growth capital from GE and its venture partners. ]
