The latest Maryland business news:
- Oak Investment Partners was the largest venture investor in Maryland 2013, according to the Baltimore Business Journal’s list of the top five VC firms. Oak’s investment in the State totaled $75 million last year.
- Convergence Technology has new digs — 8,000 square feet in Columbia that will accommodate the cybersecurity company’s growth. According to the Baltimore Business Journal, Convergence plans to hire 20 to 30 people on top of its staff of 65 by the middle of next year.
- The new eyeglass assembly facility in Baltimore County could grind prescription lenses for Google Glass, the wearable device by the web search giant. The plant could employ up to 40 people in the next two years.
- The Chesapeake Innovation Center is moving to Odenton, the Baltimore Business Journal Reports. The move will bring the incubator closer to the growing high-tech, cybersecurity cluster around Fort Meade.
- The City of Westminster launched a downtown business incubator program this week, according to The Sun. The program is seeking restaurants and retailers and “will offer financial assistance and mentoring to business owners looking to locate downtown.”
- The Baltimore Business Journal picked up the announcement of the 12 companies named finalists in the InvestMaryland Challenge, Maryland’s national business competition. The finalists are competing for $100,000 top prizes in four categories — Information Technology, Life Sciences, General Business and, new this year, Cybersecurity. A full list with links to the finalists here. More information on the Challenge here.
- Employment in downtown Baltimore rose 8 percent to about 122,000 in 2013, The Sun reports. That marks the second year in a row for job gains in the city’s core, the first time in a decade that has happened.
- Citybizlist reports on a pair of acquisitions by Maryland companies. Precision for Medicine, a Bethesda-based company that supports drug development and commercialization, acquired Hobart Group Holdings. And Digital Management Inc. acquired KnowledgePath of Burlington, Mass. DMI is a mobile and big data company and KnowledgePath has found its niche in omnichannel e-commerce.