International pharmaceutical giant GlaxoSmithKline is supporting a local Montana effort to start a business incubator, the Ravalli Entreprenuership Center, to foster the Bitterroot Valley’s fledgling biotech industry.

“We’ll be assisting the RCEDA with vetting applicants and assessing proposals to make them more solid, to make sure they have rigorous review and a solid business plan,” said Michael Covarrubias, site director of GSK’s Hamilton operation. “We expect that most of them will need money. The RCEDA can introduce them to investors, and our hope is that some could be funded.”
For Julie Foster, head of the Ravalli County Economic Development Authority, Covarrubias’ aid — beginning with his service as an advisor to the nonprofit’s board of directors — gives a tremendous leg up to her effort to get the $3.2 million Ravalli Entrepreneurship Center from drawing board to reality.

RCEDA is accepting client/tenants now for the 10,000-square-foot facility to be completed in the early fall of 2009.

Call the RCEDA Office at 406.375.9416 or email RCEDA General Information