As a Professor of Statistics at UW-Madison, Peter Qian spends much of his time solving complex problems. His ability to discover solutions beyond the current paradigm has not only led him to a highly successful academic career, but has also cultivated the ultimate entrepreneurial mindset: seeing beyond obstacles to a desired outcome. Qian is now directing his solution-oriented mentality to tackle a long-standing problem affecting a range of industries.
While today’s world puts a premium on up-to-the-minute information, time in the world of complex simulations is still measured in hours, weeks, or even months. The time it takes to generate sophisticated models has always been enormously costly to companies seeking to bring newer, better iterations of products – from batteries to aircraft engines – to market.
While others might have accepted this as status quo, Professor Qian saw an opportunity. His company, Metamodeling Analytics LLC, has developed a set of proprietary methods to shorten the time it takes to generate complex simulations by up to 90%. Requiring a mere fraction of the input data, Qian’s software predicts a multitude of outcomes, saving companies months of time and potentially millions of dollars in the process. Metamodeling Analytics is now offering a new analytics software platform based on these technologies.
Presenting the solution to such a long-standing issue comes with its own set of obstacles. Like any startup, Qian and his team have faced complex problems of their own – from solving seemingly impossible equations to acquiring customers in a nascent market. In February, the Metamodeling team tackled the ever-present funding hurdle, receiving a $50,000 grant from the Milwaukee Institute. Qian credits the receipt of this award to a host of expert advisors, including those at the Center for Technology Commercialization. Qian noted, “[CTC Consultant] Dave Linz in Milwaukee helped us greatly, especially in terms of reviewing our funding proposals.” He advises new startups to, “Talk to people, talk to the CTC, try to get all the help you can.”
Amid the highs and lows of creating a new venture, Qian’s steady, solution-oriented approach remains a key aspect of his entrepreneurial journey. Armed with breakthrough technology and an unfailing commitment to his vision of becoming a global leader in the emerging market of simulation analytics, the CTC looks forward to seeing where Qian’s problem-solving abilities take him next.