Discovery I was built by Captain Charles M. ("Jim") Binkley Jr., who had started a tour business on the rivers near Fairbanks, Alaska, in 1950.

For the first five years of operation, Binkley used a converted missionary boat, the Godspeed, to conduct the tours.

[1] After drawing up plans with a local architect, Binkley began construction of Discovery I in his back yard during the winter of 1955.

The boat was complete early the next summer, and Captain Binkley put the newly christened Discovery I into immediate use in his tour business.

Binkley planned to expand the capacity of Discovery I beyond 150 through further remodeling, but the Coast Guard hesitated to certify the vessel for more passengers.