GE and Quirky Partner to Inspire Invention

  GE and Quirky Partner to Inspire Invention

  *GE to Make Thousands of Patents Available to Global Community of Inventors
  *Companies to Develop and Bring to Market Co-Branded Line of App-Enabled
    Products

Business Wire

NEW YORK -- April 10, 2013

GE (NYSE: GE) and Quirky, the company that makes invention accessible, today
announced a new partnership that will allow everyone to participate in the
development of new products with two global leaders in invention and
innovation.

The partnership will consist of two parts: a groundbreaking new platform where
GE will open thousands of its most promising patents and new technologies to
the Quirky community for the development of new consumer products; and a
co-branded product development initiative to build a full line of app-enabled
connected devices for the home in areas such as health, security, water, or
air that will be developed using advanced manufacturing tools and
technologies. This new line of products will be co-branded Wink: Instantly
Connected.

Combining GE’s technology and scale with Quirky’s collaborative process and
speed provides a platform that will truly unlock the power of GE’s lab-proven
technologies and the potential of the app-enabled product category. The
partnership represents a marriage between what GE has dubbed the “Industrial
Internet,” or the internet of really big things -- with the internet of
everyday things.Consumers and businesses will not buy more things they’ll
need to think about, but rather be surrounded by things that think about them.

Beth Comstock, SVP and chief marketing officer, GE, said, “We admire Quirky’s
speed, collaboration and inventiveness and by opening up lab-proven technology
and patents to everyday inventors we can help inspire new ideas and accelerate
advanced manufacturing innovation. At GE we are passionate about innovation at
market speed, working with entrepreneurs and finding new models of business,
and this partnership is just another way we can help inspire invention and
help scale it. We are excited to see how the Quirky community uses tools from
our scientists and technologists around the world to develop products in an
entirely different way.”

GE Patents & the Quirky Community

In May, GE will make thousands of U.S. patents available to the global Quirky
community, which may be used as the basis for creating new consumer product
ideas. Quirky will develop a new platform designed to inspire inventors to
find new and unexpected uses for existing technologies.

Ben Kaufman, founder and CEO of Quirky, said, “Thousands of patents from one
of the most inventive companies in the world will be available to provoke,
inspire and drive a whole new way of thinking. For years patents have become
widely misunderstood and misused. We are going to return patents to their
original purpose to act as a blueprint for technological and societal progress
while protecting inventors and becoming a source of inspiration for future
creators.”

Some of the first technologies that GE will open up include optical systems,
barrier coatings and telematics:

  *Optical systems, including holographic and fast-focusing lens technologies
    - GE’s holographic storage technology can be used for archiving large
    amounts of data and fast-focusing optics technology enables rapid, high
    resolution 2D image capture of 3D images, currently applicable to markets
    ranging from contactless fingerprinting, to semi-conductor quality control
    and medical optics.
  *Barrier coatings - GE’s Ultra-High Barrier technology enables thinner,
    lighter electronic devices including smartphones, televisions and solar
    panels by using thin film encapsulation to protect electronic devices from
    degradation by moisture and oxygen.
  *Telematics and asset tracking technology - Modules used for commercial
    fleet tracking and vehicle navigation systems, which are used to monitor
    the location, movement, and behavior of a vehicle or fleet of vehicles.

“Creative partnerships are good for innovators, consumers, and our country,”
said David Kappos, partner at Cravath, Swaine & Moore L.L.P., and former
director of the U.S. Patent and Trademark office. “There is tremendous value
in patented ideas, and it is wonderful to see new collaborative ventures aimed
at moving such ideas into the marketplace.”

GE & Quirky Co-Branded Product Development Initiative

GE & Quirky have come together to co-develop a full line of app-enabled
products that will allow you to instantly connect to the things that matter.
Today, creative people worldwide are invited to go Quirky.com/GE to submit
ideas and help in the creation of an entirely new product line. GE and Quirky
will review the first round of product ideas during a special product
evaluation on April 17^th, ^ 2013. The companies and experts in the Quirky
community will continue to review ideas as part of the ongoing partnership and
regular Quirky review process. The new line of products -- “Wink: Instantly
Connected” -- will be developed by Quirky and distributed to top retailers.

“This is one of the most exciting new categories in consumer products. Our
future will be driven by access to things via our smartphones. There is a ton
of invention to be done in this area and no one owns this category,” Kaufman
added.

More information on the partnership can be found at: www.quirky.com/GE.

About GE

GE (NYSE: GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in energy,
health and home, transportation and finance. Building, powering, moving and
helping to cure the world. Not just imagining. Doing. GE works. For more
information, visit the company's website atwww.ge.com.

About Quirky

Quirky is a social product development company that brings new product ideas
to life through its online collaborative platform. Quirky's global community
collaborates with our in-house team of designers and engineers on all aspects
of design from sketch to store shelves. Anyone can participate
onQuirky.comeither by submitting their own product idea, or by voting,
determining pricing and influencing other people's product ideas. Quirky
shares its revenue with the community members who help bring Quirky products
to life. National retail partnerships include Target, Bed Bath & Beyond and
Amazon.com.www.quirky.com.

Multimedia
Available:http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50607149&lang=en

Contact:

Quirky
Tiffany Markofsky, 305-710-2960
tiffany@quirkyinc.com
or
GE
Leigh Farris, 646-682-5603
leigh.farris@ge.com
 
Press spacebar to pause and continue. Press esc to stop.