When Playing it Safe is Too Risky
€5m investment creates 50 highly skilled new jobs at New Corporate HQ Rather than "wrapping our arms around what we had, hoping we would survive and pick up the pieces thereafter", Walsh and Kelly decided to remain positive and invest in both the business and its employees. And so, earlier this month The Taoiseach, Mr. Brian Cowen, T.D., officially opened the new ’s new Corporate ch at w et ative in N with an oper ng ki Headquarters ea or ct sp ire en TD Managing D h, Brian Cow avid Walsh, and state of the An Taoiseac erseen by D ov , re nt Ce Command art Command Centre in Carlow and announced the creation of 50 highly skilled new jobs by the company.
The 50 new jobs in Operations and R&D will be created over the next eighteen months by the company, bringing total employment to over 120 people.
Established in 2003 Netwatch is an award winning protection services company which provides real time remote security monitoring to businesses and private residences in Ireland and internationally. It was the first company in Ireland to combine specialist video transmission technologies with satellite communications to provide safe, preventative, immediate and cost effective protection solutions for clients. Clients include the sports and leisure industry, automotive, construction, manufacturing, engineering, retail and the public sector.
David Walsh, Managing Director of Netwatch acknowledges that the company was borne through an innovative approach to business, "Our first innovation was in exploiting an idea – creating a safer and better way of providing security– and in identifying the revolutionary systems which would allow us to bring such a technology to the Irish market.
Two years ago, just as the Irish economy was starting to unravel, David Walsh and Niall Kelly, founders of Netwatch decided to invest €5million in the development of a new corporate headquarters and command centre in Carlow. When asked about their motivation, the response is paradoxical "To play it safe then would have been too risky". In hindsight, the contradiction makes perfect sense.
This most recent investment includes the establishment of a dedicated Research and Development centre. Up to eight employees will focus on the development of new software applications and more intelligent transmission equipment and site hardware to ensure Netwatch remains a technological leader in protection systems.
The entrepreneurial spirit of the company was acknowledged by the Taoiseach, when he welcomed the decision of Netwatch to invest in research and development in the current economic climate and stated the investment was "closely aligned to the Government's agenda in relation to innovation." "Significant investments in research and development are critical if we are to foster innovation in Ireland. Netwatch is a dynamic and energetic company, driven by innovation and commercialisation and it is exactly the kind of company that we want in Ireland as we build our Smart Economy and strive to recover from our current economic difficulties," said the Taoiseach.
"Our new R&D centre will allow us to continue to innovate with new applications and new technologies which will better protect our customers and their properties. These technologies include GPS tracking, audio visual detection, personal protector equipment and wireless perimeter security cordons to protect individuals and premises
Spring 2010 edition of Risk Manager Magazine