[kingkawn]

The film industry has this, often financed by major studios. Usually they consist of giving promising young producers budgets of $200k per project, and letting them loose to choose almost anything they want. They in turn look to develop projects that are potentially viable in both old and new spaces, ie TV and the web. So far the people I know who do this have survived all of the budget cuts simply because the studios have no other idea what to fund.