Wake Forest Innovation Quarter

What Wake Forest Innovation Quarter does

Wake Forest Innovation Quarter is a 330-acre mixed-use innovation district in downtown Winston-Salem, North Carolina, structured as a public-private partnership between Wake Forest University School of Medicine, real estate developer Wexford Science & Technology, and city, county, and state governments. Since 2012 the district has delivered 1.7 million square feet of completed space integrating renovated historic tobacco-warehouse buildings with new construction, housing 170 companies, 5 academic institutions, and a workforce of 3,700+ people across 1,800+ degree-seeking students and 8,000+ trainees. Core offerings include tiered office and lab space (private offices through 20,000-square-foot suites), coworking at 525@vine, startup space at Sparq, street-level retail, apartments and lofts, and 60 acres of available development land. The district's anchor cluster is regenerative medicine, anchored by the Wake Forest Institute for Regenerative Medicine (WFIRM) and the RegenMed Development Organization (ReMDO), which together with Wake Forest Baptist Medical Center form a RegenMed Hub ecosystem that includes a Clinical Trials Catalyst with reach into 5.5 million patients across 67 hospitals.

Revenue is generated primarily through commercial real estate leasing across office, lab, coworking, retail, and residential lines on subscription-style annual and monthly billing terms; the operating entity does not publicly disclose revenue. Distribution is direct (in-house leasing team) and indirect (commercial real estate brokers), supplemented by referrals from anchor institutions and the RegenMed Hub ecosystem. The district's go-to-market targets four primary segments — life sciences and healthcare companies, technology startups and growth companies, academic and research institutions, and retail/restaurant operators — with a secondary residential tenant segment. Notable enterprise tenants include MiMedx, ProKidney, AlloSource, Javara Inc., Etaluma, Charter Medical, Fluree PBC, and UPS Flight Forward. A Phase II master plan announced in June 2021 commits an additional 2.7 million square feet across 10 buildings on 28 acres, financed in part by a $25 million commitment from Front Street Capital.

The organization functions as a real estate and ecosystem operator rather than a technology company; no proprietary AI/ML models, software products, or public APIs are operated. Innovation Quarter promotes inclusion through partnerships with organizations such as ACCESS Center for Equity & Success, Soy Emprendedor, and HUSTLE Winston-Salem, targeting minority-, women-, and Latino-owned businesses, and runs community programming including Bailey Park events, Innovation Cinema, Sunset Salutations, and the SciTech Institute. The district was rebranded from Wake Forest Innovation Quarter to simply "Innovation Quarter" (iQ) in February 2020 to better reflect its diversified community of companies, institutions, students, and residents.

Name

Wake Forest Innovation Quarter

Legal name

Innovation Quarter

Website

https://innovationquarter.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

The Innovation Quarter is a 330-acre mixed-use innovation district in downtown Winston-Salem, NC, stewarded as a public-private partnership that leases office, lab, coworking, retail, and residential space to 170 companies, 5 academic institutions, and a 3,700+ workforce anchored by Wake Forest's regenerative medicine cluster.

Ownership category

akta.pro rank

Product category

Innovation District Commercial Real Estate

akta.pro primary industry

Entrepreneurship, Innovation & Venture Creation Centers (EDAHAHAH)

akta.pro secondary industries

Innovation & Design Thinking Programs (EDAMAHAD), Career Exploration & Industry Exposure (Guest Speakers, Company Visits) (EDAMAHAJ)

Keywords

• Mixed-use innovation district
• Commercial real estate leasing
• Biomedical lab facilities
• Coworking office space
• Research district development

Headquarters

HQ city

Winston Salem

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Commercial Real Estate Leasing: Revenue generated from leasing office space, laboratory space, coworking facilities, retail space, and apartment/loft units to tenants including startups, established companies, research institutions, restaurants, and retailers.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

The Innovation Quarter operates a 330+ acre mixed-use innovation district in downtown Winston-Salem, leasing office and laboratory space, coworking facilities, retail storefronts, and residential apartments/lofts. It curates an ecosystem connecting 170+ companies, five academic institutions, and residents with anchor partners such as Wake Forest University School of Medicine and Wexford Science & Technology, and runs community programming including coworking, accelerators, and STEM outreach.

Product overview

The Innovation Quarter is a mixed-use innovation district in Winston-Salem, NC spanning 330+ acres with over 1.7 million square feet of completed space. Rather than a unified software product, it offers a portfolio of real estate services (office and lab space, coworking at 525@vine, retail, apartments/lofts, development sites), business resources (Sparq coworking, Forsyth Tech Small Business Center, ACCESS Center, Launch Challenge accelerator), community amenities (Bailey Park public greenspace, Long Branch Trail), and educational programs (SciTech Institute, Innovation & Cinema, Wake Downtown educational facilities). The district also hosts anchor institutions including the Wake Forest Institute for Regenerative Medicine and RegenMed Development Organization, creating an ecosystem for regenerative medicine companies and startups. Phase II development plans include 2.7 million square feet across 10 buildings on 28 acres.

Differentiator

Problem solved

Functional benefit

Products and services

• Office & Lab Space Flexible commercial real estate ranging from private offices to 3,000-square-foot suites and 5,000-20,000-square-foot suites for growing companies, including dedicated laboratory space for research and biotech operations. Leased to companies of all sizes within the innovation district.
• Coworking Spaces (525@vine) Intentional coworking spaces in the 525@vine building for businesses seeking smaller, flexible yet vibrant innovative environments with community amenities. Targeted at startups, freelancers, and small teams.
• Sparq Winston-Salem Startup and small business launch pad located at the Bailey Power Plant, providing workspace, amenities, and resources to help entrepreneurs launch and grow their businesses.
• Retail Space Street-level retail spaces supporting restaurants, retail, and service companies within the innovation ecosystem and surrounding daytime population.
• Apartments & Lofts Residential living options ranging from renovated factories and historic buildings to state-of-the-art constructions, including loft, apartment, and condominium offerings for individuals and families.
• Development Sites Sixty acres of development opportunities, including 28 shovel-ready acres, available for companies to develop their own facilities within the Innovation Quarter, with 2.7 million square feet of planned space in Phase II across 10 buildings.
• Bailey Park Central public greenspace at the heart of the Innovation Quarter that hosts events, concerts, and community gatherings fostering social connection and district programming.
• RegenMed Hub Regenerative medicine innovation ecosystem providing physical space, access to experts, and resources for tissue engineering and regenerative medicine companies, including the RegeneratOR Test Bed, Innovation Accelerator, and Workforce Development programs.
• SciTech Institute Program providing middle school students exposure to STEM careers through partnerships with local companies, featuring hands-on and experiential learning activities in the district.
• Innovation & Cinema Free outdoor movie-screening event series where locals give pre-film talks relating their work or expertise to selected films, sparking conversations about innovation and science.
• Sunset Salutations Free outdoor yoga series partnership with Lotus Yoga Academy and 2B Yoga promoting health, wellness, and community building in the Innovation Quarter.

Named customers13 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

14 partnerships are on record, tiered minor, core and flagship.

• UPS Flight ForwardminorStrategic or Co-development Partner · 15 July 2020Drone delivery partnership with Wake Forest Baptist Health for COVID-19 vaccine and medical supply delivery using cold chain packaging developed for drones.
• Fluree PBCminorStrategic or Co-development Partner · 26 February 2020Blockchain-backed data platform provider working with Wake Forest School of Medicine's Center for Healthcare Innovation to better manage data integration for patient care review.
• Atrium HealthcoreStrategic or Co-development Partner · 1 November 2019Partnership with Wake Forest Baptist Medical Center to create next-generation academic healthcare system. The strategic combination received regulatory approval and was anticipated to complete by March 2020.
• Wake Forest University School of MedicineflagshipStrategic or Co-development PartnerCore anchor institution partner in the Innovation Quarter. Wake Forest School of Medicine, the 16th largest teaching hospital in the US, provides medical education, research capabilities, and healthcare innovation expertise. Its move downtown contributed to the knowledge-based community and innovation ecosystem focused on building vibrant community and driving economic growth.
• Wexford Science & TechnologyflagshipStrategic or Co-development PartnerReal estate and development partner responsible for developing and managing Innovation Quarter properties. Partnership formed to share vision of creating a thriving downtown that would sustain the region through mixed-use innovation district development.
• City, County and State GovernmentscoreStrategic or Co-development PartnerPublic sector partners providing economic development support, infrastructure investment, and policy support for the innovation district. Winston-Salem, Forsyth County, and North Carolina state government collaborated on the initiative.
• RegenMed Development Organization (ReMDO)flagshipStrategic or Co-development PartnerNon-profit R&D organization driving the RegenMed Hub ecosystem with RegeneratOR programs (Test Bed, Innovation Accelerator, Workforce Development). Partners with WFIRM to support biotechnology innovation and assist companies through FDA approval processes.
• Wake Forest Institute for Regenerative Medicine (WFIRM)flagshipStrategic or Co-development PartnerLeading regenerative medicine research institute established in 2004, responsible for world-first lab-grown organ (bladder) and body-on-a-chip platform. Provides expertise in tissue engineering, cell therapies, diagnostics, drug discovery, biomanufacturing, and 3D printing.
• Javara Inc.minorStrategic or Co-development PartnerClinical research integration company working to integrate clinical research and clinical care. Involved with RegenMed Clinical Trials Catalyst accessing 5.5 million patients across 67 hospitals and 1,000+ outpatient facilities.
• Forsyth Technical Community CollegecoreStrategic or Co-development PartnerEducational institution with 24,000-square-foot suite in 525@vine building housing Business & Industry Services, Small Business Center, leadership training, and workforce development programs.
• Winston-Salem State UniversitycoreStrategic or Co-development PartnerHBCU anchor institution with Biomedical Research Infrastructure Center (BRIC) providing entry point for minority and underrepresented scientists into biomedical research. Students work on understanding and curbing effects of human diseases.
• ACCESS Center for Equity & SuccesscoreStrategic or Co-development PartnerJoint partnership of Piedmont Business Capital and Venture Café Winston-Salem helping minority- and women-owned businesses. Provides programming, mentorship, and access to capital. Has distributed over $200,000 and helped 70+ firms complete certifications.
• Soy EmprendedorminorStrategic or Co-development PartnerNon-profit organization increasing opportunities for Latino community in Winston-Salem. Hosts accelerator program for high school students to develop entrepreneurial mindset through workshops and mentoring.
• HUSTLE Winston-SalemminorStrategic or Co-development PartnerOrganization leveraging creative strategies and community partnerships to accelerate underrepresented entrepreneurs. Based at Innovation Quarter's Center for Design and Innovation.

Scale indicators13 records

Recent moves9 records

Expansion highlights4 records

Direct peers

• Research Triangle Park: The largest dedicated research park in North Carolina and one of the largest in the US, anchoring a biotech/innovation ecosystem near Durham, Raleigh, and Chapel Hill. A direct in-state competitor for biotech tenants and academic partnerships.
• Alexandria Real Estate Equities: The largest publicly traded life-sciences real estate REIT, focused on operating Class A lab/office campuses in innovation clusters. Directly comparable to IQ's core office-and-lab leasing model serving biotech and academic tenants.
• BioMed Realty (Blackstone): Private life-sciences real estate platform owned by Blackstone, leasing lab and office space to biotech tenants in innovation hubs. Directly comparable to IQ's lab/office leasing focus and tenant mix.
• Wexford Science & Technology: IQ's own development partner and operator of multi-institutional, mixed-use innovation districts (e.g., Cortex St. Louis, Hershey Center for Applied Research). Functions as both partner and direct peer in the innovation-district-as-a-service model.
• University City Science Center: Philadelphia-based innovation hub founded by universities and hospitals to commercialize research through incubation, lab space, and programming. Comparable in mission (university/healthcare-anchored venture creation) if smaller in real estate scale.
• Cortex Innovation Community: A 200-acre innovation hub in St. Louis co-developed by Wexford, Washington University, BJC HealthCare, and the University of Missouri–St. Louis. Closest comparable in terms of anchor-institution structure, mixed-use design, and developer partnership.
• Cummings Research Park: One of the largest research parks in the US (3,800+ acres in Huntsville, AL), hosting aerospace, defense, biotech, and tech tenants. Comparable as a multi-anchor innovation district with mixed-use amenities and academic/healthcare adjacencies.

Emerging players

• Anchor Health Properties: Healthcare-focused real estate developer operating medical office and outpatient/healthcare innovation properties. Comparable in the healthcare-anchored leasing niche, though more narrowly focused on medical office than life-sciences R&D.
• IQHQ / Breakthrough Properties: Life-sciences-focused real estate developer (formerly IQHQ's research district business). Operates innovation/life-sciences districts in San Diego, Boulder, and other markets with similar anchor-institution-driven models.

Broad incumbents

• South Lake Union (Amazon campus district, Seattle): Mixed-use innovation/life-sciences cluster in Seattle anchored by Amazon and the Allen Institute. A broader incumbent example of a tech-and-biotech-driven innovation district with retail, residential, and lab components.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/wfiq
• Facebookfacebook.com/InnovationQuarter
• LinkedInlinkedin.com/company/wake-forest-innovation-quarter

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wake Forest Innovation Quarter