GenIP shares rose on Wednesday after the Generative AI analytics company announced its second contract within a week.
The company has secured a $65,000 contact with a Singapore research institute following a period of marketing in Southeast Asia.
Today’s award is part of a wider bid process the company alluded to in a recent update.
The contract with the Singapore client is far smaller than a deal worth $350,000 with a Saudi Arabian client announced last week, but the ongoing bid process suggests their efforts in Asia may yield further wins before long.
GenIP shares were 11% higher at the time of writing.
“We are delighted to partner with a leading research and innovation institution in Singapore to accelerate the commercialisation of new technological discoveries,” said Melissa Cruz, CEO of GenIP.
“This collaboration demonstrates the broad application of our technology evaluation services by supporting cutting-edge clinical and healthcare research and innovation. Furthermore, this contract underscores the significant size of the addressable market for our technology commercialisation services.”
In an announcement released in early March, GenIP suggested their pipeline of business could result in a ‘step change’ in revenue.
Although investors will want to see further evidence of this, recent developments would suggest they are well on the way to a material uptick in revenue generation.