Tony DiMarco, founder of NavAgility in Poughkeepsie, is another casualty of the recession. The economy has pulled the rug out from DiMarco”™s nine-year-old technology company, which filed Chapter 7 bankruptcy mid-June.
Nine years ago, DiMarco left IBM and “put my heart and soul into this new business; it broke new ground and created some incredible software that can”™t be found anywhere else,” said DiMarco. Along with family, friends and a few partners, DiMarco also received “angel” capital from a variety of sources, including Orange County Capital, all now on the long list of creditors on DiMarco”™s petition.Â
“It”™s hard to get your hands around losing something you”™ve poured your whole life into,” said DiMarco, who hopes there will be a life for NavAgility after bankruptcy. “I”™ve had a few people express interest.”
DiMarco says with two patents already pending, “I”™m hoping someone will come along and see the potential and keep the company going. We had 22,000 members using our software, which was geared toward career management, but had many applications.”
DiMarco was with IBM for 20 years before leaving to start the new company in 2000. “This is the first time in 29 years I have been without a job,” he said, and with two children still in college. “That”™s another reality I”™ve had to come to grips with.
“What I am hoping is that someone will see the terrific potential in the company and I”™ll be asked to stay on and continue my work. I”™ve learned a lot and could really contribute to its success.”
