WATER TOPIC PROCESS
1. Open Call for Proposals: July 7, 2015 through September 24, 2015. The submitted responses should provide a non-confidential explanation of how the proposed technology addresses one or both of the Focus areas.
2. Evaluation of Proposals: October through November 2015. Entries will be evaluated by a panel of at least four (4) judges comprised of GE and Statoil employees with expertise in the fields of oil and gas, unconventional resources, material science and product commercialization. Proposals will be evaluated both on technical merit and on how well the proposed technology matches the business and strategic goals of the Challenge.
3. Announcement of the Winners: November 2015. Up to five (5) awards at a maximum of up to $25,000 USD each.
4. Guided Funding and Further Development: Each winning respondent will also have an opportunity to receive additional funding for a six (6) month period from a discretionary pool of development funds of up to $375,000 USD. For more details on the award, visit the Award Page, or download the Official Challenge Rules.
Download the Water Topic Summary
WATER TOPIC SUBMISSION CRITERIA
Responses from companies (small to large), academic researchers, other research institutes, consultants, venture capitalists, entrepreneurs, and inventors are welcome.
Appropriate responses will address the following:
Brief non-confidential description of proposed technology:
Technical maturity of approach
Expertise and capabilities of responder (include any relevant prior projects or experiences)
All submissions must be recieved by the deadline shown on the Challenge homepage
Late submissions will not be accepted
Download Water Topic Summary
WATER TOPIC AWARD
A total prize pool of up to $500,000 USD available in the form of initial cash prizes (of up to $125,000 USD) and a discretionary pool of development funds (of up to $375,000 USD) will be awarded by GE and Statoil as described below:
Up to 5 respondents will receive an initial cash prize of $25,000 USD.
Each winning respondent also will have an opportunity to receive additional funding for a six (6) month period (from a total prize pool of up to $375,000 USD) to continue further development and/or commercialization of respondent's Entry technology provided the winning respondents enter into a mutually agreeable business relationship with Grant Sponsors which includes an agreed upon plan for guided funding.
Additional Developmental Funding:
Allocation of the additional development funding from the discretionary development pool of up to $375,000 USD will be determined based upon, but not limited to, the following considerations:
- Degree of innovation
- Level of commercial readiness
- Nature of the technology
- Total number of winners continuing to co-development stage
- Experience and expertise
An agreed upon plan to guide the development funding will be required. For a full description of the Award, please refer to the Official Challenge Rules.
All cash Awards are a one-time offer and there is no offer of licensure, royalty, or other financial compensation implied beyond the initial round of cash Awards.
Download Water Topic Summary
DATES HAVE CHANGED. SEE REVISED TIMES ON CHALLENGE WEBSITE
WATER TOPIC RULES
Eligibility and details for The Sand Topic are outlined below.
The Innovative Sand & Water Technologies for Onshore Operations Challenge is open to eligible participants with ideas or technologies that meet the Challenge objectives. Complete eligibility requirements are described in the Terms and Conditions.
Selection and Review Process
All judging, eligibility, and award decisions are final, not subject to review and at the sole discretion of the Sponsor(s). Respondents acknowlege that the Sponsor(s) reserve the right to award fewer than five (5) winners, if in its sole discretion, an insufficient number of eligible Entries meet the Judging Criteria.
The award determination will be made by GE with guidance and recommendations of the strategic advisors convened for this pupose, to ensure relevant expertise and diversity of perspectives.
By submitting a response, respondents agree to all of the submission requirements outlined in the Terms and Conditions, including confidentiality, selection, and the review processes, including:
- Respondents agree to the submission terms described in the required Response Form.
- Respondents confirm that their submissions do not contain any confidential information.
- Respondents acknowledge that the Sponsor reserves the sole and absolute right and discretion to fund all, some, or none of the responses received to this request.