The launch of a new start-up company by two UWaterloo Velocity students is helping to prove that win-win situations can exist between energy companies and the environment.
Andrew Andrade, the co-founder of PetroPredict, is a Mechatronics Engineering student beginning his third year this term. His company, PetroPredict, builds technology that uses different sources of data to allow engineers to identify low capital and high reward optimization opportunities in their fields, which also benefits the environment. Their mission is to apply quantitative engineering, distributed computing techniques, and geospatial analysis to allow the petroleum industry to make smart enterprise decisions. The result will revolutionize the way the energy industry makes decisions to improve their profitability and efficiency. Sounds pretty smart, right?
Andrew gives credit to success coaching and Velocity for his inspiration and success. Success coaching at the Student Success Office in Andrew's first year taught him the fundamentals of time management and goal setting. This support helped Andrew acquire the skills needed to land a co-op position at Suncor, Canada's largest integrated energy company.
After his co-op term, success coaching aided Andrew in his decision to join Peraso, a technology start-up that builds state-of-the-art wireless chips. Andrew's previous experience came in handy with helping to develop marketing material for Peraso -- he even helped to design a product for the company that can be seen on the front page of Peraso's website.
Through success coaching in the Student Success Office, Andrew was introduced to Mike Kirkup, the director of Velocity, which led to Andrew’s decision to stay at the Velocity Residence in fall 2013. Andrew's involvement with Velocity helped him to meet his co-founder Dominic Toselli. Together, they came up with the idea for PetroPredict. After a term working at Facebook, Andrew worked on PetroPredict full-time for an Enterprise Co-op term.
While there are great renewable technologies, many things in the world are fueled by petroleum, especially in developing countries like India or China. PetroPredict enables energy companies to use artificial intelligence and predictive analytics to model risk and solve huge environmental problems before they happen.
I envision a world where information technology allows humans and computers to make better decisions and control complex situations without relying on pre-programmed solutions. - Andrew Andrade
The Conrad Business, Entrepreneurship and Technology Centre blog features tips and tricks about entrepreneurship from Andrew in a guest blog. Learn more about PetroPredict, Success Coaching and Velocity.