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Mayor to celebrate business start-up success

November 30 2004

Mayor to celebrate business start-up success at graduation

Mayor of Auckland Dick Hubbard will join Auckland University of Technology staff to celebrate the graduation of three businesses from the University’s Technology Park business incubator, in Penrose 5-6:30pm tomorrow, December 1st.

Xegen and Zenago Intelligent Internet Solutions have already left the business incubator programme to operate as independent commercial entities and Traffic will leave the programme in December.

Technology Park CEO Jonathan Kirkpatrick says that all three companies are well equipped to fend for themselves in the competitive world of business.

“The products these companies are now marketing utilise innovative technologies and I believe over time they will contribute much to this country’s emerging knowledge economy.”

Each of the companies meet the government’s high growth criteria in terms of generating employment, potential export earnings, investment or revenue. Started in 2002, and immediately profitable, Xegen initially distributed decision support systems. Founder, President and CEO, Ian Carter, then developed a next generation analytic business intelligence platform to meet the needs of businesses that are not currently fulfilled by existing tools. To incubate the concept, Xegen moved its operations to the AUT Technology Park in Penrose during the first half of 2003. In April this year, iGlobe Treasury, one of the government’s New Zealand venture investment seed fund managers for investments in high-tech companies, provided bridge funding to Xegen Limited. "Xegen plans to lead the way in creating systems to empower organisations and individuals to improve performance by farming intelligence out of knowledge, thereby becoming more innovative and competitive in the process," says Philip Lum, General Partner of iGlobe Treasury.

more "Xegen expects to position itself at the forefront of next-generation intelligent analytics for structured and unstructured data. Tools of this nature are estimated by the European Intelligence Unit to attract investments in excess of US$148 billion from Chief Information Officers and Chief Executives looking for solutions to the issue of business intelligence. They consider this to be one of the top, contemporary business issues," says Ian Carter. Zenago Intelligent Internet Solutions left the technology park earlier in the year. It is a business that works with clients to maximise the potential of the internet as an effective part of its marketing mix. Modern, efficient and functional solutions that help clients drive their business are its main strengths.

Jonathan Kirkpatrick says Zenago is an example of an enterprise experiencing growth shortly after leaving the business incubator.

Business growth consultancy Traffic CEO Simon Brown says the company benefited from its time in the incubator in several respects.

“Tech Park’s mentoring, IT infrastructure and offshore development and research assistance has enabled the company to grow quickly. We already have a strong client base in New Zealand and are well on the way to becoming operational in Australia in 2005, and expanding into other offshore markets by 2006.”

ENDS

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