FirstBuild Taps the Crowd to Hack the Home of the Future

GE's 2014 Global Innovation Barometer revealed that two-thirds of executives believe it is critical to encourage creative behavior and disrupt traditional business processes in order to successfully innovate. GE responded to this need by founding FirstBuild, a subsidiary that leverages an online co-creation community dedicated to the development of the next generation of home appliances. After launching last October, FirstBuild incorporated crowdfunding to expand their community and secure funding. Their product, Paragon - a Connected Induction Cooktop - exceeded its $50,000 funding goal on Indiegogo in 12 hours and reached over $282,000. In April, FirstBuild will host a 24-hour Hackathon to further develop innovative appliances using products from sponsors like GE and Intel.