CableLabs Eyes Startups, 'Innovation Flight'

July 11, 2017
Earlier this summer, Boomtown Accelerator and UpRamp, a subsidiary of CableLabs , joined forces to invest in early-stage startups related to connected devices and connectivity software. Together they will select ...

Earlier this summer, Boomtown Accelerator and UpRamp, a subsidiary of CableLabs, joined forces to invest in early-stage startups related to connected devices and connectivity software.

Together they will select and support 20-plus endeavors over the term of their three-year partnership.

Over the past 10-15 years, technology has democratized entrepreneurship in a way, including in the cable industry. This means that savvy employees might come up with a stellar idea, and instead of working to develop it within their large operator employer, they put it in their pocket and form a startup.

CableLabs watched this trend over the last couple of decades and wanted to help. Hence the formation of UpRamp, a wholly-owned subsidiary of CableLabs, with the goal of grooming emerging tech companies. "We can connect the startup with the most powerful network in the world. (Global) operators that can cooperate on technology goals," said Scott Brown, managing director of UpRamp.

Since it has become "fashionable," relatively easy and inexpensive to try to build a startup, there are 178,000 created every month globally, Brown said. "That innovation flees every industry as people go out and build their own thing. At CableLabs, we needed to find a way to re-engage with emerging entrepreneurs and bring the innovation back into our world."

One of the problems for startups is that their potential customers often have a sales cycle of 24 months, but often the startup only has only 12 months of runway, Brown said. The partnership with Boomtown is designed to nurture an idea through to the point where the product hits the market.

Boomtown focuses on getting an idea fit and ready to get out of the gate, and UpRamp follows in the later stage, helping to get deals. The plan is to have six cohorts over the next three years. Within each cohort, there will be three to four early stage startups. Applications can be found at boomtownaccelerator.com. The Fall Program starts on Aug. 21, but the website states that applications will be reviewed up until the start of the next class. Those chosen will receive a co-investment from UpRamp and Boomtown in exchange for equity and program services.

What are they looking for? It might not be what you expect.

Brown says that a startup shouldn't be discouraged because its idea isn't specifically related to cable. "The things we (the cable industry) are doing today is much more interesting (than just video). IoT, security, services … all the (operators) have ad tech, sales and marketing. We are looking at young companies that are doing amazingly interesting things that are relevant to cable."

Toby Krout, co-founder and executive director of Boomtown, added that what makes a successful startup isn't just a great idea. "Probably the biggest factor is the quality, nature and characteristics of the people. We focus on the type of people that come into the program."

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