The Idaho Innovation Center, a nonprofit based in Idaho Falls, has a new name and announced it is taking a new direction.
The Center, led by executive director Bryan Magleby, moved locations recently, to what Eastern Idahoans may recognize as the old Melaleuca headquarters. As they got ready for the move, Magleby said they decided to change other things too.
"We decided to get a new fresh name so we're going to be known as the Idaho Business Growth Center," Magleby said.
The Center’s employees work to help local entrepreneurs grow their businesses and to provide free resources to those wanting to learn about business techniques. They house 30-40 tenants, small businesses in need of a center of operations.
The Center has been running for over 40 years now in Idaho Falls. They focus on three things with their mentees. Education, networking and mentoring.
“Education is a major thing, teaching people how to be good entrepreneurs,” Magleby said. “In order for businesses, most businesses to be successful, they have to network. So that is the second key thing. We host multiple networking groups that help businesses grow and give each other leads. We have a lot of those organizations that meet here."
Magleby says his own mentor played a pivotal role in helping him find success with his own businesses. The mentors at the IBGC help local entrepreneurs and businesses set and work toward goals.
"And then we hold them accountable to those goals. That's one of the big things we do," Magleby said.
Magleby says he wishes more people knew about the Center, and the resources it provides.
"After about five years of being in business, only 50% of businesses that start are still in business. If they come through our program and our organization, we have about an 86% still in business after five years," Magleby said.
With the name change, the IBGC is focusing even more on education than they did before.
"We're kind of calling it a business university. If people want to learn all the aspects of their business that they need to grow, we're going to have classes for it here at our new business university," Magleby said.
Tenants at the IBGC participate in weekly mastermind group sessions, and there are opportunities for classes, coaching, and group projects through the Center.
Local business owners who are interested in the Idaho Business Growth Center and the classes, programs and resources it offers can visit idahobgc.org.