Greater Winston-Salem Inc. is pleased to announce the launch of the BioNest Fund, a strategic initiative designed to attract and grow life sciences companies in Winston-Salem and Forsyth County. 

Greater Winston-Salem Inc. has partnered with the Whitaker Park Development Authority to launch and fund the program. The BioNest Fund will provide up to $25,000 per company to support growth-stage, innovative life sciences companies relocating to or expanding in Winston-Salem. With a pool of $200,000, the fund aims to fill a critical gap for early-stage life sciences companies that often do not qualify for traditional publicly funded economic development incentives due to smaller job creation or investment thresholds. 

“Many high-potential life sciences startups fall below the thresholds for conventional incentives, leaving them at a disadvantage. The BioNest Fund fills that gap and sets Winston-Salem apart as a leader in recruiting early-stage biotech firms, pairing our unmatched assets with direct support to build an ecosystem that drives job creation, private investment, and long-term growth,” says Ellis Keifer, Vice President of Economic Development for Greater Winston-Salem Inc. 

The BioNest Fund builds on Winston-Salem’s growing momentum as a hub for biotechnology and medical research, anchored by its two major healthcare systems Advocate Health and Novant Health. Over the past two years, the community has recruited or supported the expansion of 13 life sciences startups, creating more than 40 new high-wage jobs. We anticipate continued and increasing interest from these companies, particularly as the National Science Foundation Regenerative Medicine Engine in North Carolina’s work accelerates over the coming years, headed up by the Wake Forest Institute for Regenerative Medicine. 

“With academic assets like Wake Forest University Health Sciences, Winston-Salem State University, and Forsyth Tech Community College, physical space for lab and biomanufacturing, and an increasing concentration of life sciences companies, we can provide the talent, infrastructure, and partnerships that these companies need to grow, while creating and retaining more local jobs,” says Isaac Perry, Head of Biotech and Life Sciences Ecosystem Development for the Innovation Quarter. “The BioNest Fund is about more than incentives – it’s about building density in the ecosystem. When we attract and support a critical mass of companies, Winston-Salem becomes an even stronger magnet for talent and investment.” 

Companies applying for BioNest incentives must commit to signing a lease or purchasing real estate in Winston-Salem and demonstrate plans for local hiring and ecosystem engagement. Funds are awarded on a performance basis, ensuring accountability while fostering long-term growth. 

This initiative reflects Winston-Salem’s broader strategy to position the region as a premier destination for life science, biotechnology, and regenerative medicine, leveraging its academic and healthcare institutions, skilled workforce, and nationally recognized innovation ecosystem. 

To learn more about eligibility or to apply for support, please contact info@winstonsalem.com.