GenIP shares rose on Thursday after the AI analytics company announced a material increase in orders for its technology commercialisation services.
The company launched AI-enhanced services in September and has secured over 450 orders for technology assessments since their launch. This is up from 195 reported at the end of November.
Investors will likely have also been encouraged by an upbeat outlook on trading and a pipeline of potential business that could result in a ‘step-change in order flow and revenue generation’.
The update released on Thursday also outlined plans for introducing new products to serve the technology transfer market. The company said it has been working closely with its clients to identify additional requirements and will use existing infrastructure to meet these needs.
GenIP shares were 15% higher at the time of writing.
“As Chairman of the Board, I’m delighted to see GenIP’s solid commercial progress and global reach, which is a testament to the value our AI-enhanced solutions bring to the technology transfer market,” said Lord Willetts, Chairman of GenIP.
“The combination of sophisticated analytics with expert human insights has the potential to be a winning formula, providing support to universities and corporations in navigating the complexities of commercialising innovation. In a world where the pace of technological advancement is ever-increasing, GenIP is well-positioned to play a role in ensuring that the most promising discoveries reach their potential.”