Software venture hunting staff

BY CHRIS GARDNER, BUSINESS EDITOR
Last updated 13:51 09/03/2009

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Hamilton software developer NetValue says it is headhunting a dozen new staff after forming a multimillion-dollar joint venture with a Silicon Valley company to market highly specialised medical diagnostic software.

NetValue chief executive Graham Gaylard was not concerned with the worldwide shortage of Information and Communication Technology professionals which, last year, saw only 52 per cent of New Zealand's 4000 vacancies filled.

The five-year-old company, which owns more than half of Real Time Genomics launched in San Francisco yesterday, is already tapping on shoulders to fill research and development jobs at its London St headquarters which employs 40.

"We have already got our eye on people and will headhunt them," Mr Gaylard, who is moving to the US to head the new company, said. "It comes down to who they want to work for."

Last week The Waikato Times reported how Cambridge-based internet host RimuHosting was considering outsourcing to India because it could not fill two programming jobs.

NetValue's joint venture in San Francisco, which will employ about four staff, has cost millions of dollars to establish and is backed by Silicon Valley venture capital firm Catamount Ventures. That company has more than US$200 million under management.

Real Time Genomics will market and sell NetValue's highly specialised SLIM Search software which can search genomes and enable medical professionals to make diagnosis.

SLIM Search, developed by NetValue shareholders Dr Stuart Inglis, Dr Leonard Bloksberg and Professor John Cleary, can be installed on a single PC, while similar software requires banks of computers. It is expected to sell for more than $100,000 a copy.

"This is an exciting and significant development, which will allow NetValue to establish the SLIMSearch technology in the global market," Mr Gaylard said.

Catamount Ventures managing director Mark Silverman said genetics research promised to cure disease, develop next generation fuels and could end world hunger.

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'We have already got our eye on people and will headhunt them. It comes down to who they want to work for.' - Graham Gaylard NetValue chief executive

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- © Fairfax NZ News

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