Rutgers Camden Technology Campus, Inc. (“RCTC”) is a not for profit 501(c) (3) mixed use business incubator. Its mission is to attract, develop and retain new businesses for Camden. It provides subsidized rent, professional mentoring, business services and management assistance to emerging early-stage companies and their employees along with access to venture capital and other supportive services. In these ways it works to foster economic growth and business success in Camden and across the region.
The incubator is located on the 2nd floor of the Camden Technology Center Building at 200 Federal St. It currently accommodates 41 client companies, the majority of which are private, for-profit ventures. At latest count, these companies have a total of 185 employees. The average annual wage of an employee is a bit in excess of $38,000, not including benefits. Quick calculation shows that this computes to a total annual salary pool of more than $7 million.