We've got an example of it operating here in Canada called 'byteclub'. They showcase a few different companies each season -- it's worked well, and I follow it semi-religiously:

http://www.lifeforcetv.com/byteclub

I looked into investing in them a few years back but at the time it would have required something like $12k a season to bankroll. They went another direction shortly thereafter and started allowing the companies showcased to fund some of the episodes, which luckily didn't affect the quality of the show overall.

Enjoy watching it myself. Wouldn't mind seeing something similar in the U.S.. re: techstars -- they've got an advantage of having everyone centralized into one location, so production costs easily scale down significantly vs. flying people around.

Either way, there's definitely a market :)