Monday, Aug 11, 2003 10:17 AM

RESEARCH TRIANGLE PARK, N.C., August 11, 2003 - Ping Fu, president and CEO of Geomagic, has received the 2003 Entrepreneurial Inspiration Award from the Council for Entrepreneurial Development (CED) in Research Triangle Park, N.C.

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.

“Ping Fu is an inspiration to all of us,” says Monica Doss, CED president. “She has overcome numerous challenges on the path to entrepreneurial success, thus making her a fitting recipient of this special award.”

The benefits of think3’s partnership with Geomagic are available today to design, engineering and manufacturing companies worldwide.

CED is a private, non-profit organization that was founded in 1984 to stimulate the creation and growth of high-impact companies in the greater Research Triangle area. It provides programs and services in education, capital formation, mentoring and communications.

“I accept the award on behalf of everyone at Geomagic who has been instrumental in the company’s success,” Fu says. “It is an honor to receive an award from CED, an organization that has been so influential in helping entrepreneurs in the Triangle realize their dreams and goals.”

About Geomagic

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 DavidsonTimberland, Mattel/Fisher Price, Lego, Pratt & WhitneyNASA, 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.

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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.

Media Contact:

Rachael Taggart
Geomagic, Inc.
+(1) 919-474-0135
Contact Rachael