SMTP announces $3 million in grants for ocean projects

Schmidt Marine Technology Partners (SMTP), a program of The Schmidt Family Foundation, has awarded $3 million in grants to help launch new ocean technology initiatives and support existing partners. The funds support innovative projects that enable ocean research, promote habitat health, and maintain sustainable fisheries.

SMTP’s “venture philanthropy” model was developed to fill a gap in support available for the early development of ocean technologies, which typically require something beyond traditional grants in order to achieve full potential and availability. Since its founding in 2015, SMTP has contributed funding to the development of more than 60 promising technologies that solve complex ocean health issues and, in most cases, have strong commercialization potential. 

This grant cycle’s recipients and projects include the following:

Schmidt Marine Technology Partners is part of the Eric and Wendy Schmidt Network that includesThe Schmidt Family FoundationSchmidt Futures11th Hour Project,  Schmidt Ocean Institute 11th Hour Racing and Remain Nantucket.