As we holiday our way into 2025–wait, is it 2025 already?! It seems like it was just yesterday that we were planning 2024.
While 2024 may seem like a blur, there was a lot that happened in the iQ this year. So much so that we broke it down into some of the biggest highlights of the year.
Here are some of the things that we celebrated over the past 365 days:
Advances in Scientific Innovation
If you follow life science news at all, you’ll know that regenerative medicine is a bit of a buzzword. In the iQ, it’s more than buzz, it’s happening everyday. Not only is it happening, but it’s being recognized and fueled on a national scale. Although the iQ is home to a lot of exciting biotech research and innovation, 2024 threw a spotlight on our quickest growing sector of medical technology and advancement.
Piedmont Triad Regenerative Medicine Engine Created
It all started when the National Science Foundation announced the creation of the Piedmont Triad Regenerative Medicine Engine (PTRME), a multimillion dollar grant designed to kickstart the capabilities around regenerative medicine in North Carolina. Over the next year, it could pump up to $160 million dollars into the industry, facilitated by a number of organizations in and around the iQ, led by Wake Forest Institute for Regenerative Medicine (WFIRM). This announcement is helping draw more regenerative medicine companies into the iQ and surrounding areas to participate in this unique industry hub.
$2.5 Million Invested in Regenerative Medicine Companies
The NSF Engine was only the beginning. Since then, more money has been flowing into the region to help grow regenerative medicine companies with groundbreaking technologies. The Piedmont Triad Regenerative Medicine Engine announced that $2.5 million would be invested in six different regenerative medicine companies. Four of those companies call the iQ home: Brinter, BMI OrganBank, Biorg, and FetTech. These grants will help power cutting-edge research and development in the regenerative medicine industry.
Changes to the Landscape
Real estate growth and development is a hallmark of the iQ, but this year marked expansion in a new (and not as obvious way) when infrastructure work began in the district’s open space just south of Third Street, an area called Phase II. With fencing erected and a lot of machinery coming and going, you may have wondered what we’re up to. To answer some of those questions, earlier this year we announced the master plan for Phase II of the Innovation Quarter development.
Phase II Horizontal Infrastructure Work
Phase II is a 28-acre plot between Third Street and Rams Drive with Research Parkway running through the middle. On either side of Research Parkway is space for new construction that will add 2.7 million square feet of new office, research, retail, and residential space to the district and Winston-Salem’s downtown. But before you can add buildings, you have to prepare the space.
Horizontal infrastructure work refers to the laying of electrical and fiber conduit, construction of new service roads, streetscaping, and other key elements that have to be in place before you can build up. We’re working with long-term development partners Wexford Science & Technology and general contractor Whiting Turner to complete the work, including the install of 46,000 feet of conduit, 140 trees, and 130 street lights, as well as expanding Long Branch Trail by a half a mile. These changes not only lay the groundwork for future development, but ensure the infrastructure is in place to continue growing community connection and access.
Entrepreneurship and Startup Advances
While real estate is a hallmark of the iQ, entrepreneurship is the backbone. We love entrepreneurs and start-ups, and we work hard to add support services and access to resources that will help fledgling companies grow. This year, we got busy increasing that access, from physical space to new accelerators and more, with the help of some key partners.
Sparq Labs Launched
Sparq Labs launched in 2024, offering affordable life science laboratory space for rent to biotech companies looking for a place to grow. To help smaller companies or lean ventures, Sparq Labs offer key features and equipment that life science companies need to do their research, helping to grow the innovation ecosystem in the biotech field.
Ricoh 3D for Healthcare Innovation Studio Opened
This year, point-of-care 3D medical device manufacturing came to the iQ through the partnership of Ricoh USA, Inc. and Atrium Health Wake Forest Baptist. The Ricoh 3D for Healthcare Innovation Studio opened in the iQ, where clinicians and researchers can access resources to create 3D-printed anatomic models for surgical planning and patient education. In the future, other iQ tenants may also have access to the Innovation Studio to help grow the iQ ecosystem.
Greater Winston-Salem Inc. Recognized for Greatness
The business ecosystem in Winston-Salem got a big vote of confidence this year when Greater Winston-Salem Inc. (formerly known as the Winston-Salem Chamber of Commerce) won a national award for being the 2024 Chamber of the Year. The award recognized the work that Greater Winston-Salem does to help build the workforce in the area and create an environment that fosters businesses.
Converge South 2024 Happened
Once again, Converge South brought investors, startups, and entrepreneurial experts together in one place–Biotech Place, to be exact–for two full days of information and interactions. The weekend, which was sponsored by the Flywheel Foundation, created opportunities for entrepreneurs to connect and provided education in areas like applied AI, marketing, and fundraising.
Techstars Startup Weekend Announced
The iQ also made an exciting announcement for next year. In February 2025, the Techstars Startup Weekend is coming to the iQ. Powered by the prestigious international accelerator Techstars, this event brings a wealth of entrepreneurial knowledge and resources to Winston-Salem. This particular Startup Weekend will focus on AI and life sciences, helping entrepreneurs get started on their journeys. Registration is open!
New Tenants on the Block
Whether occupying a storefront, residing within Sparq, our co-working space, or occupying lab space, we are thrilled to welcome new companies and organizations of all shapes and sizes to the iQ community. This year we added 13 new tenants, about as diverse in purpose as they come, which is a great reminder that what makes an innovation district thrive is the coming together of all the components needed to work and live.
Here are the new tenants that we welcomed:
A law firm in Bailey Power Plant
A cocktail lounge in Bailey South
An accounting apprenticeship program in Sparq
The Clubhouse Salon for Men
A salon in Bailey South
A cryopreservation company in One Technology Place
Dorsett Controls
A supervisory control and data acquisition company in Bailey Power Plant
A biotechnology company in One Technology Place
A physical therapy and personal training in the Link Apartments
Life science lab space for rent in One Technology Place
Winston-Salem’s chamber of commerce in 525@vine
A 3D printing manufacturing facility in One Technology Place
A medical device company in the Dean Biomedical Building
A Japanese Peruvian fusion restaurant in Link Apartments
Purpose-filled Events
Events are always a big draw in the iQ. We hosted our usual events many have come to know and love, like Innovation & Cinema or the Winston-Salem Cycling Classic. We witnessed a slew of new happenings in the Coal Pit and elsewhere, and we can’t wait to see what’s next in 2025. When reflecting back, there were three events that really stood out as special for 2024.
SummerLark Rocked it Out
This was the third year for SummerLark, and it was headlined by Canadian rock band, Barenaked Ladies. While the concert had the largest turnout to date, this event isn’t just about the music. SummerLark raises support for the Cancer Patient Support Program at Atrium Health Wake Forest Baptist’s Comprehensive Cancer Center, and in 2024, the event raised more than $400,000 to support families impacted by cancer diagnoses. Keep your ears to the ground for the headliner for SummerLark 2025, happening on May 10!
Picnic in the Park Premiered
This year, we celebrated every minute of the sunshine with a new signature series, Picnic in the Park. The series featured musical stylings from DJs to bluegrass, party bands to rock bands, all taking stage in Bailey Park, which also hosted a variety of food trucks to feed your body while the music filled your soul. If you missed the series (or just didn’t make it to the picnic as much as you wanted), don’t despair. The purpose here was simple: the art of enjoying the moment. This series will be back in 2025, and we hope you’ll come and savor the ambience with us.
Juneteenth
Juneteenth, which commemorates the emancipation of enslaved African Americans and their contributions to society, has been celebrated in Winston-Salem as an all-day festival for 25 years–the last eight years have been hosted in the iQ. Between the iQ’s conference center in Wake Forest Biotech Place and Bailey Park, this location provides ample opportunity for a wide variety of performances, vendors and activities. We couldn’t be more proud to host this event, which had over 10,000 attendees this year!
Yep, 2024 was a good year. But we’re not resting on our laurels–check out the events already on the calendar for 2025 and sign up for our emails to make sure you don’t miss anything!
