What are we looking for?
Labs is focused on early-stage digital media and technology companies that are at the point of commercialisation.
Labs companies should ideally have a commercial product with early customer traction and an aggressive growth strategy. Labs will also consider companies with working prototypes on the verge of launch if they can provide sufficient proof of concept and market potential.
All product and services within the realm of media and technology will be considered, both B2C and B2B. This can range from web applications, gaming, virtual worlds, mobile / tablet applications, advertising technologies, advanced video applications, connected TV, community and collaborative software, CRM, augmented reality among others.
Selected companies will likely have:
- small yet highly experienced teams (approx. 2-10 employees),
- a clean capital structure with potentially some financial backing from either government funding or angel investment,
- the potential to address a large global market with a strong vision of the future,
- and a need or interest to pursue a commercial deal with BBC Worldwide and its offerings.
Overall, selected companies are those we believe will gain the most from a partnership with BBC Worldwide.
Why are we looking for it?
BBC Worldwide created Labs to promote and showcase a select few early-stage digital media and technology companies. Ultimately, the goal for BBC Worldwide is to create commercial deals that not only catapult the start-ups to the next level of success but also position BBC Worldwide at the forefront of the market by helping to define and create the emerging digital landscape.
Although we can’t promise that a commercial deal results from joining Labs, we will do everything that we can to facilitate such an outcome. This includes introducing Labs companies to all the key people from across the various BBC Worldwide business units, holding formal and informal events and networking sessions, contact with the legal teams that paper the commercial deals, and gaining early insight into future BBC Worldwide product development.
Commercial and strategic partnerships will generally be considered on the basis of alignment with BBC Worldwide’s current strategic objectives which include driving digital growth, becoming more international, developing more direct connections with consumers and expanding our content and channels. However, any commercial arrangement ultimately resides with the business units themselves. Our role is simply to facilitate.
We will also evaluate:
- the level of innovation or disruption to existing or new BBC Worldwide markets or products.
- how significantly the start-up addresses or resolves existing or previously unknown problems that BBC Worldwide might face.
- the potential to find talent and knowledge transfer between the start-ups and BBC Worldwide staff.
Checklist of Criteria
When selecting companies, Advisory Board members are advised to use the following checklist to rate each company and determine the top companies based on highest rating. Please also see LABS Selection Process document for more information.
