RESEARCH TRIANGLE PARK, N.C., June 30, 2003 - Ping Fu, president and CEO of Geomagic, has received the 2003 Ernst & Young Entrepreneur of the Year Award in Information Technology for the Carolinas.
According to Ernst & Young, the award “honors entrepreneurs whose hard work and perseverance have created and sustained successful, growing business ventures.”
Ping Fu co-founded Geomagic in 1996 with Herbert Edelsbrunner, whose patented research in computational geometry and topology provides the technological underpinnings for the company. Geomagic’s products enable designers and engineers to capture scan data from physical parts and create highly accurate digital models. It provides the software power for applications such as mass customization, reverse engineering and computer-aided inspection.
Fu took over as president and CEO of Geomagic in early 2001, initiating a set of corporate changes that jump-started product sales and significantly reduced costs. In the nine quarters since then, product sales have tripled under some of the harshest economic conditions in recent American history. Over the last five years, Geomagic’s revenues have grown by 935 percent.
“This award really belongs to the people at Geomagic – they are the brains and the stars,” says Fu. “I thank my family for all the support, and Ernst & Young for giving me the honor and the opportunity to meet and exchange information with other outstanding entrepreneurs.”
Geomagic (www.geomagic.com) is a global company dedicated to advancing and applying 3D technology for the benefit of humanity. Geomagic’s scanning and design software solutions are used to capture and model 3D content from physical objects, organically sculpt complex shapes, and prepare products for manufacturing. In addition, the company produces powerful 3D metrology and inspection software that verifies dimensional quality by comparing as-built products to master designs. Geomagic’s Sensable Phantom haptic devices simulate the sense of touch in a digital environment.
Geomagic’s software and hardware are utilized by world-class customers in a variety of industries, including aerospace, automotive, medical, consumer products, toys, collectibles, coindesign, jewelry, fine art, heritage restoration, research, education, mold making, entertainment, training and surgical simulation. In fact, some of the world’s leading companies and research organizationsuse Geomagic software, including Ford, BMW,Boeing, Harley Davidson, Timberland, Mattel/Fisher Price, Lego, Pratt & Whitney, NASA, Schneider Electronic, 3M, Danaher and Invisalign. Geomagic is based in Research Triangle Park, N.C., USA, with an office in Boston, subsidiaries in Europe and Asia, and channel partners worldwide.
Geomagic, Geomagic Studio, Geomagic Qualify, Geomagic Qualify Probe, Geomagic Spark, Wrap, Geomagic Wrap, Phantom, OpenHaptics, Omni, Freeform, Claytools, Sensable and Sensable Technologies, Inc. are trademarks or registered trademarks of Geomagic Inc. All other trademarks are the property of their respective owners.