In advance of its move from Canton to a new Highlandtown location in October, the Emerging Technology Center (ETC) graduated 14 of its incubator-startups, and 10 of those remain in Baltimore city.
Since its founding in 1999, startups housed inside the Baltimore city incubator — overseen by the Baltimore Development Corporation, which funds about one-third of the ETC’s annual $2.1 million budget — have created more than 2,300 new jobs, according to annual surveys filled out by ETC companies.
Here are the 10 startups remaining in Baltimore city:
- Groove Commerce, which recently opened a new office near Little Italy
- SmartLogic (formerly SmartLogic Solutions)
- 410 Labs, whose new office is above The Brewer’s Art in Mount Vernon
- Vigilant Medical
- Home Track (HMG)
- Arcion Therapeutics Inc.
- Cerecor Inc.
- New Sapience LLC
- Oomph Marketing
Staff of EntreQuest Inc. were among the program’s mentors. The company is Harbor East’s old Broom Corn building on Fleet Street, said spokeswoman Erica Mechlinski.
A press release announcing the news touts the “economic impact” of the ETC over the years, saying ETC companies have “generated in excess of $375.8 million in economic activity for the City of Baltimore.”
Using the IMPLAN economic analysis model, the University of Baltimore‘s Jacob France Institute runs an economic impact study on the ETC every two years to come up with that number. The last economic impact study for the ETC was conducted in April 2012.
Broken down, that $375.8 million economic activity figure is based essentially on four measurements. Per an e-mail from a spokeswoman with the ETC:
- Direct effects, which represent the change in economic activity being analyzed — in this case the employment and estimated revenues of tenant and graduate companies.
- Indirect effects, which represent the changes in inter-industry purchases — for example, the purchase of goods or services to support company operations — in response to the change in demand from the directly affected industries.
- Induced effects, which represent the changes in spending from households as income and population increase due to changes in production.
- Total effects, which are the combined total of direct, indirect and induced effects.