Genesis Awarded $800,000 Grant For Software Development Initiative
Technology New Zealand has awarded Genesis Research and Development Corporation Limited (NZSE /ASX: GEN) a technology
development grant of almost $800,000 over two years to support the development of new gene discovery software and
capitalise on Genesis’ investment in plant gene databases.
“Gene discovery is moving from the laboratory to the computer, as research moves from gene-by-gene analysis to
large-scale modelling of the functional interrelationships between genes,” says Dr. Jim Watson, Genesis Chief Executive.
Genesis is developing the gene discovery software to increase the value that can be extracted from its plant gene
databases and other data sources. To date the Company has invested $35 million in constructing specialised databases of
plant genes in arabidopsis, rice, pine, eucalyptus, grasses, fruit and berries. It holds numerous genes with the
potential to increase crop yield, control biomass and allowing plants to be used as biofactories to produce high value
molecules for industries such as forestry, bio-energy and food technology.
Dr. Watson foresees several opportunities to derive future revenue from the gene discovery software: “The time taken to
discover and develop plant genes as commercial products will be significantly reduced resulting in cost savings for
Genesis as well as increased opportunities to license new plant products. We also anticipate licensing access to the
final software product.”
Technology New Zealand is part of the government’s Foundation for Research Science and Technology, and has a
comprehensive suite of schemes that promotes the development and adoption of advanced technologies by business.
Investment by Technology New Zealand through grants such as obtained by Genesis is directed at supporting technical
innovation for wealth creation.