(2008-10-17) Cisco Smart Grid Award

Cisco ran an IPrize competition for Open Innovation. The winners have created a business plan for an IP framework that would lower power consumption by making devices ask for power from the grid when it's required instead of passively consuming it whether it's needed or not. (World Energy Grid) A number of Start Up-s have won massive amounts of funding in that area recently, like Gridpoint, Silver Spring Networks and Trilliant.

The concept will be developed by Cisco's emerging technologies unit, an in-house incubator. Available in about 18 months, the products will use Internet Protocol networks to create so-called smart grids, which are managed remotely. Cisco chose the idea because of its potential to generate at least $1 billion in annual sales within five to seven years.