TEK Tekcapital Plc

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, or contact:

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-