In this industry, a love of games, intelligence, and enthusiasm are the most important qualities that you should look for in a prospective hire. An intelligent and enthusiastic candidate learns rapidly, invests himself in his work, and will pay for himself several times over in a short period of time.
The competition for top talent in the games industry is fierce. When you find a good candidate, be aggressive. Move the process along as quickly as possible. Whom you hire is the most important decision you can make in starting a new company. When you are successful in choosing people that share your vision and enthusiasm about what kind of company you are creating, you have gone a long way toward assuring success.