The founder of successful network monitoring company Endace has been honoured with the prize of New Zealand Entrepreneur of the Year at the New Zealand Engineering Excellence Awards.

Dr Ian Graham, who is now chairman of Endace, founded the company in 2001 after leading a research team at the University of Waikato developing technology for measuring latency in high-speed digital networks.

Endace has since grown to employ over 170 staff in offices in Auckland, the UK and the US, and posted revenues in excess of US$38 million in its fiscal year 2011.

Just over a month ago, TechDay spoke with Tim Nichols, Endace’s VP global marketing, as he prepared to leave for California to set up the company’s Silicon Valley office.

Mike Riley, CEO of Endace, says the company’s story is very much a story of Dr Graham.

"Ian’s award is well-deserved, and we are extremely proud of all that he has achieved,” Riley says.

"Ian has created innovative network monitoring solutions that have enabled many large and influential organisations around the world to have accurate visibility of their networks, and he continues to foster innovation and tech entrepreneurship in New Zealand.”

Gretchen Kivell, convenor of the awards panel, says she was thrilled to announce Dr Graham as winner of the award.

"Not only has he developed world-leading technology,” Kivell says, "he’s also been instrumental in bringing it to market and making it a commercial success.”