26th Mar 2025 10:37
(Alliance News) - GenIP PLC on Wednesday said it has secured a contract worth around USD65,000 with a Singapore-based research and innovation institute.
The contract covers the delivery of 100 GenAI-enhanced analytical assessments and is part of a wider bid process with leading Asian institutions.
London-based GenIP uses generative artificial intelligence technology to help firms commercialise their offerings.
Earlier in March, GenIP said it had "significant bids in progress with two leading institutions in Asia following our participation in a major industry event in the region".
Chief Executive Officer Melissa Cruz said: "This collaboration demonstrates the broad application of our technology evaluation services by supporting cutting-edge clinical and healthcare research and innovation.
"This contract underscores the significant size of the addressable market for our technology commercialisation services."
GenIP added: "The award results from GenIP's ongoing sponsorship of key technology transfer initiatives and marketing activities in leading Southeast Asian technology hubs."
Last week Thursday, it announced a contract win worth USD350,000 with a new customer, a research organisation in Saudi Arabia.
"The contract commences immediately and covers the delivery of 400 GenAI-enhanced analytical assessments and additional technology commercialisation consulting services," GenIP said.
Shares in the company advanced 1.7% to 30.00 pence each in London on Wednesday morning.
By Lucy Dunnet, Alliance News reporter
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