 DuMont Laboratories was founded in 1931 by Dr. Allen B. DuMont with only $1,000, and a laboratory in his basement.He and his staff were responsible for many early technical innovations, including the first consumer all-electronic television receiver in 1938.Their most revolutionary contribution came when the team successfully extended the life of a cathode ray tube from 24 to 1000 hours, making television sets a practical product for consumers.