RIVER FALLS – The five-year anniversary of the St. Croix Valley Business Innovation Center (SCVBIC) was marked Monday, May 22, with a celebration that allowed the businesses who rent in the “incubator” building to show themselves off to the crowd on hand for the event.

The Innovation Center, located at 1091 Sutherland Ave. in River Falls, opened in January 2018. The seeds that sprouted the incubator were planted about a decade before that. It is a partnership that includes the River Falls Economic Development Corp., the University of Wisconsin-River Falls, the City of River Falls and Chippewa Valley Technical College. Funding for the ambitious project came from a $250,000 grant from the State of Wisconsin, $1.4 million from the U.S. Economic Development Administration, as well as from more than $4 million in investments of grants, donations and loans.

The building houses many start-up and new businesses, offering assistance and training to help them become successful. It has private offices, co-working areas, workstations, light industrial space and food-service space.

“Our mission here is simple. It’s just to provide incubation space, training and support to foster entrepreneurship, which ultimately creates a vibrant economy,” said Sheri Marnell, Ph.D., SCVBIC director. “We really have great things happening here. I like to say we create an entrepreneur ecosystem.”

The first tenant arrived in May 2020.

“It’s crazy to think that three years ago this month we had our first incubator member. We grew over 400 percent in 2021, with our peak membership of 30 members in 2022,” Marnell said.

The center received international honors last summer, as it was awarded the Entrepreneur Support Organization of the Year by the International Business of Innovation Association.

Joe Fischer is chair of the innovation center’s management committee. He said that in the years the center has been open, 150 local jobs have been retained and 94 new jobs have been created. Over $33 million in capital has been invested. He said 13 members have graduated from the incubator program. The 29 current incubator members employ more than 80 people.

UW-River Falls Chancellor Maria Gallo said she was intrigued by the SCVBIC when she arrived in 2021.

“I was so excited to learn about the innovation center, and I thought it was progressive that in River Falls this partnership exists between the university, the city and other partners. It’s a wonderful idea and really bridges that gap between really great ideas and true entrepreneurship,” she said.

Incubator members and others who rent space in the building had the opportunity to put their products on display. From coffee and other beverages, to travel and the food served at the event, it’s clear there are some great ideas at work in the St. Croix Valley Innovation Center.