Cordish’s Spark off to strong start

Spark, The Cordish Cos. planned collaborative workspace for startups in Baltimore, is off to a hot start.

The company announced Wednesday a roster of 22 firms that are Spark members as of November, and the firm has only been accepting applications since this summer. Spark’s space is located in the Power Plant Live offices at the Bernstein Building that Cordish is turning into a hub for entrepreneurship.

“The initial response for Spark has been tremendous with a dozen companies already moved in,” Beth Boots Workman, director of operations for Spark, said in a news release. “Baltimore’s startup scene is quickly expanding and Spark provides a unique opportunity for these companies to reach their full potential.”

Spark provides various levels of memberships for companies, including monthly desk and office memberships, annual suite memberships and even mailbox memberships. The space will also provide members an amenity-rich environment mimicking what can be found in the offices of various successful startups, such as a high-end, shared kitchen, craft beer, lounge areas and media wall.

The investment in a space such as Spark comes at a time of growing optimism about the future of the startup and entrepreneurship culture in Baltimore. As larger markets, such as San Francisco and New York, become more expensive, secondary markets, such as Pittsburgh and Charm City, are competing to attract these firms and the prized millennials who enjoy working at startups and want to live in the city near their offices.

Organizations such as Betamore have been working to foster tech startups in Baltimore with incubators, shared workspaces and guidance. Developments, such as Seawall Development Cos.’ planned R. House, look to expand the startup culture beyond the tech sector and into the food world by serving as an incubator for chef-driven concepts that can become restaurants.

A report released early this year by JLL found reasons to be optimistic that Baltimore is succeeding in cultivating a startup culture. Although the amount of venture capital invested in the area fell 14.8 percent between 2014 and 2013, the report also found that nearly twice as many firms received funds compared to the previous year, which indicates more possibly-viable firms emerging.

That brings its own set of opportunities to the table because new firms will eventually want attractive office space but don’t want the restrictions of a long-term lease. Property owners likewise are unwilling to sink the capital into the type of build-out that attracts startups without having the security of a lease. That schism opens the door for spaces such as Spark, and even local startup Kinglet, which aims to link emerging businesses with subleases for small and underutilized office spaces.