According to the CRA’s Policy Blog:
The National Science Foundation today announced it has selected BBN Technologies to create and run the project office for its proposed Global Environment for Networking Innovations (GENI) research facility. BBN, which won the original government contract to build the ARPANET in 1969, will manage the planning and design of the GENI network facility, in consultation with the research community and the GENI Science Council.
GENI is conceived as a large-scale research instrument to test and mature a wide range of research ideas in data communications and distributed systems. While GENI itself isn’t a replacement for the current Internet (or any other communications technology), it is designed to create an environment within which researchers can pursue ideas and develop technologies that might lead to an Internet fundamentally better than the current one.