Background to the GE Carbon Trust partnership
Since February 2012, the Carbon Trust has been working with GE to identify and evaluate early stage companies. The initial 18 month phase consists of a $5 million fund targeted at new low carbon technologies in the area of infrastructure applications. The most promising companies will receive incubation support and investment. This partnership is part of the $200 million GE ecomagination Challenge, a global open innovation initiative with venture capital partners that launched in 2010 to find and fund the best ideas around clean tech technology.
According to GE's Innovation Barometer, which polled 2,800 businesses across 22 markets globally, the majority of UK companies surveyed saw innovation as fundamental to the future health of the UK - both economically and socially - but that sufficient triggers are not in place to stimulate and encourage it.