REG - GenIP PLC Tekcapital plc - Corporate Update

GenipAnnouncement

20/11/2024 07:00

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RNS Number : 8627M  GenIP PLC  20 November 2024

 

 

 

 

 

20 November 2024

 

 

GenIP Plc

("GenIP" or the "Company")

 

Corporate Update

 

GenIP plc, a technology business providing Generative Artificial Intelligence
(GenAI) services to help research organisations and corporations commercialise
their innovations, is pleased to provide an update on orders for the GenAI
enhanced services and commercial partnerships with leading research
institutions globally.

 

 

Highlights:

 

·      Received a single order for 30 Invention Evaluator GenAI
analytical assessments ("IE Reports") from a leading Fortune 100 technology
company client, the largest single order since the launch of Generative AI
enhanced services on 1(st) September 2024.

·      Signed a commercial agreement with a leading Saudi Arabian
research institution, GenIP's first client in the Kingdom.

·      Initiated negotiations with over 50 potential new clients,
including research institutions, corporations, and venture capital firms,
following recent engagements at global technology transfer events.

·    Since GenIP's GenAI services were launched, 195 orders for IE Reports
and 8 orders for Vortechs placement assignments have been secured. 1 

 

Management of GenIP has attended a couple of well-known global technology
transfer events in the past few weeks, promoting the Company's GenAI
integrated services and initiating negotiations with over 50 potential new
clients worldwide.

 

The Company continues to receive multiple additional orders for both Invention
Evaluator analytical assessments and Vortech's GenAI-enhanced executive search
assignments and looks forward to announcing significant commercial milestones
in the near term following the launch of our e-commerce marketing programme.

 

 

Melissa Cruz, CEO of GenIP, comments:

 

"We are delighted to have received GenIP's largest single order since our
GenAI enhanced services launched. The calibre of our clients and the orders
for multiple volume reports demonstrates the utility of our technology
transfer services for research institutions seeking to improve
commercialisation of their new discoveries. Additionally, we are highly
encouraged by our interactions with leading innovators at recent industry
events in Singapore and Brazil and are confident these will translate to
additional orders for GenIP's services."

 

 

For further information regarding GenIP, please visit www.genip.ai
(http://www.genip.ai/) , or contact:

 

 GenIP Plc                                                                 Via Redchurch Communications

 Melissa Cruz, CEO

 Beaumont Cornish Limited (Nominated Adviser)                              Tel:  +44 (0) 20 7628 3396

 Roland Cornish / Asia Szusciak / Andrew Price

 Novum Securities Limited (Broker)                                         Tel: +44 (0)20 7399 9425

 Jon Belliss                                                               JBelliss@novumsecurities.com

 Redchurch Communications (Financial PR)                                   genip@weareredchurch.com (mailto:genip@weareredchurch.com)

 John Casey

The information communicated within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No
596/2014 which is part of UK law by virtue of the European Union (Withdrawal)
Act 2018.

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

Notes to Editors

 

About GenIP

 

GenIP provides generative artificial intelligence (GenAI) analytic services to
help companies, research institutions and venture funds assess and
commercialise new discoveries. GenIP combines expert human technical review
with GenAI algorithms to provide insightful and verified services.

 

GenIP provides two complementary platform-based services:

1.   Invention Evaluator: Provides bespoke research reports that assess the
market potential of new technological innovations and discoveries using
AI-driven proprietary software; and

 

2.   Vortechs: which is an executive recruitment platform that through
advanced machine learning algorithms and natural language processing
technologies assists in matching technology organisations with experienced
executives skilled in technology commercialisation.

 

The Company believes that its integrated GenAI service offerings will help
organisations to evaluate and commercialise their technological innovations.

Company Strategy

GenIP's goal is to create a leading Generative AI analytic services company.
To achieve this, the Company has established three strategic pillars:

 

·    Organically grow Invention Evaluator and Vortechs' revenue through
institutional and corporate connections as well as increase client pipeline
through marketing, advertising and social media spend.

·    Expand the Generative AI service offerings within InventionEvaluator
and Vortechs' to reach new customers and improve margins.

·    Bolt-on acquisitions of additional Generative AI services that are
helpful to our clients and have demonstrated initial market traction.

 

 

 

 

 

 

Forward looking statements

 

Certain statements contained in this announcement constitute forward-looking
statements. When used in this announcement, the words "may", "would", "could",
"will", "intend", "plan", "anticipate", "believe", "seek", "propose",
"estimate", "expect", and similar expressions, as they relate to the Company,
are intended to identify forward-looking statements. These statements include,
but are not limited to, statements regarding intentions, beliefs or current
expectations concerning, among other things, the Company's results of
operations, financial position, liquidity, prospects, growth, strategies and
expectations of the industry in which the Company operates.

 

Such statements reflect the Company's current views with respect to future
events and are subject to certain risks, uncertainties and assumptions. Many
factors could cause the Company's actual results, performance or achievements
to materially differ from those described in this announcement Should one or
more of these risks or uncertainties materialise, or should assumptions
underlying forward-looking statements prove incorrect, actual results may
differ materially from those described in this announcement as "intended",
"planned", "anticipated", "believed", "proposed", "estimated" or "expected".

 

For the avoidance of doubt, the contents of the Company's website and any
hyperlinks accessible from the Company's website are not incorporated by
reference into, and do not form part of, this announcement and investors
should not rely on them.

-ENDS-

 

 1  GenIP orders are delivered at the discretion of our clients and are
recognised as GenIP revenue when IE Reports are produced and delivered and
when Vortechs search assignments are completed.

 

 

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