Comcast's Next Step Toward Innovation
Recently Comcast announced the launch of LIFT labs for Entrepreneurs – a start-up accelerator for media, entertainment and connectivity start-ups. The first lab under this program will open in Philadelphia and the company is looking to expand the program to Atlanta next year. The media industry is in a transformative phase, as streaming media and live videos on social media take center stage, threatening the traditional cable TV industry. Comcast has been ahead of competitors in adapting to this changing landscape, and is looking at its “Leveraging Innovation For Tomorrow” program to stay ahead of competition in this industry via innovation. Other media giants such as Time Warner and Walt Disney already have their own accelerator programs; for Comcast, this accelerator – along with its venture fund, Comcast Ventures – should help the company effectively tap entrepreneurial talent in the industry.