How Comcast selects startups for its competitive LIFT Labs accelerators

Nine in 10 of Comcast NBCUniversal’s LIFT Labs startups ink commercial deals, pilots or proofs of concept after the accelerator.

That stat comes from Laura Plunkett, head of LIFT Labs and executive director of startup engagement. She credits access to a network of mentors, businesses and corporate partners to develop potential relationships.

It also helps that the accelerator is designed for startups specifically interested in working with major enterprises like Comcast itself.

“We’re always aiming for long-term strategic partnerships,” Plunkett said on the Founding Philly podcast. “But even when we don’t get there, there are learnings to be had, and just being a part of the startup ecosystem, we can see what’s next and what’s coming around the corner.”

Plunkett brings global experience to her role at Comcast. She worked in Manhattan after finishing school at Lehigh University, bounced to Pittsburgh for a private equity education company and then moved to Shanghai, China, where she pivoted from traditional finance to a work strategy career. Plunkett finished her MBA between Singapore and France and later landed in her current role.

These experiences drove an interest in the value that can be created between large corporations and new companies, per Plunkett. She now works to create collaborations that harness the agility and focus of a startup while unlocking the robust resources of a major enterprise.

Earlier this fall, Comcast announced its latest cohort of LIFT Labs participants, all of which have a strong AI focus. That seems to be intentional, as it aligns with Comcast’s plans for the future — and general industry trends. 

“When we think about strategic relevance, we think about what does Comcast need right now and what is the market demonstrating,” Plunkett said. “It’s absolutely no surprise to anyone that we’ve been really focused on AI startups.”

Still, a main goal is that startups get something out of it, too. 

“If you’re not returning that value to [the founders] and you’re just doing it to bring that excitement into your organization,” Plunkett said, “you’re going to have a short run at this.”

Listen to the full podcast to hear Plunkett share her journey.