Here's a logo I threw together for you. I thought the most striking elements were the light bulb and lightning bolt so I made them the main part of the logo. The text really does not need to be large - once people associate a name with an icon you don't need the name to be visible - think Nike! To give you an idea how I work I included the b/w version. I always start in b/w because a strong design works well without colour.
I think the bulb could be made cooler and less simple, give it some character. Plus the outline should be taken off the yellow and the color changes to something like an orange. You could try a very subtle bevel and see how that looks and generally try to smooth the whole thing out a little. Just subtle rounding in all corners.
Just realised Crunchy Frog did a nice improvement. He is right in the idea of making the wording less complex and the font works really nicely. Build from something like that Maybe try varying the size of the bulb and the style.
Is this supposed to be in contest forum?LOL.Too many participants. But I think everyone doing great. My only suggestions is that change to font.Make it more web 2.0. You know what I mean right? Azim
If the font is the basis of your design, you may want to think about changing your design all together. It was just difficult to catch the immediate impact because the font was not clear enough.