If they are targeting those interested in startups and not just the lastest trashy reality show they would be much better served doing it documentary style. It's something I would gladly pay a fair amount to watch, following the ups and downs on young startups in a level headed and unbiased way.

I think another good setting for this would be a coworking space, I know techstars is essentially that but at a regular coworking space you get a heap of diversity in what people are doing which adds interest.