General Electric Company (NYSE:GE) is ready to take its GeniusLink network to the next level, revealing a new alliance with Enterprise crowdsourcing firm Fulcra to boost its expert inventor and prototyping network. By adding Fulcra into the mix, GE gets to open expansion for client connection to inventors to universities to researches- all this access along with prototyping platforms, promotions for entrepreneurs, along with crowdfunding.
“Our mission is to connect our customers with the right talent, technology and methodologies to enable them to get business done more effectively and maintain a competitive edge through nimble operations. Our partnership with Fulcra is exciting as it allows our customers to engage with inventive minds to solve tough problems—including idea generation, prototyping new products, pulsing the market for product interest, or vetting voice of market with early adopters,” said Dyan Finkhousen, president of GENIUSLINK and Director of Innovation and Advanced Manufacturing for GE.
GENIUSLINK, which was launched by GE in 2013, connects internal and external organizations with over 20 million experts providing insights, solutions and capacity to help clients operate with better information, at a faster pace, for better results. The GENIUSLINK system is compatible with any business function, in any industry worldwide.
Fulcra CEO, Louis Foreman said: “There is a growing demand by established companies to bring in more ideas and better solutions, and to speed up the product launch cycle. We are delighted to bring our unique set of skills to this partnership with GENIUSLINK.”
Fulcra is part of the Enventys family of companies based in Charlotte, NC, and includes a strong inventor network, a prototyping facility, a crowdfunding agency, and Inventors Digest magazine. These crowdsourcing services are designed to accelerate innovation and product development by connecting corporations to inventors and early adopting consumers.
The partnership will enhance GENIUSLINK’s ability to connect with the inventor community for solutions and do rapid market testing. Fulcra will distribute challenges to Edison Nation – which hosts one of the largest active forums for inventors to exchange ideas and respond to requests from manufacturers and retailers seeking faster and better product outcomes.
Fulcra has its own Enterprise crowdfunding platform where established corporations can test customer interest quickly and safely. Enventys operates the leading crowdfunding agency in the United States, having raised over $150 million in commitments from consumers.
TipRanks indicates caution reigns the Street when it comes to this industrial giant. Out of 13 analysts polled in the last 3 months, 2 are bullish on GE stock, 8 remain sidelined, while 3 are bearish on the stock. Notably, the 12-month average price target stands at $14.30, aligning with where the stock is currently trading.