It seems like "labs" sites are all the rage these days. Adobe has their popular labs site, and even firms like Big Spaceship have started a labs site. I just found out today that Comcast has been running their Comcast Interactive Media Labs since late 2005 without much fanfare.
The thing that surprised me most was that a lot of the cool interactive projects coming out of Comcast were developed and/or started in their media lab. For example, The Fan 3.0 was launched and won People's Choice at FlashForward 2006 in Austin.