General Electric jointly funds its third corporate venturing fund with support from four venture capital groups.
New York-listed industrial conglomerate GE has agreed to fund half of a $200m corporate venturing fund and launch an open innovation competition for companies seeking to improve the electric grid.
The fund is the third in a series GE has rolled out across media, healthcare and clean technology in recent years, although the bulk of its corporate venturing activities have been part of its GE Capital, Equity division.
The fund and competition are called the GE ecomagination Challenge: Powering…
