Funding the Gap in Ocean Technology
Schmidt Marine Technology Partners is a program of the Schmidt Family Foundation. We focus our work on 1) Funding the development of ocean technologies that solve complex ocean health issues, and in most cases strong commercialization potential, 2) Providing broader business support through a network of consultants and mentors, 3) Helping those working in the marine technology field get better connected to each other and with outside resources, and 4) Acting as a source of vetted information about emerging trendsand companies. We created this “venture philanthropy” model to fill an often fatal gap in support available for the development of ocean technologies, which typically require something beyond traditional grants in order to achieve full potential and availability. Our goal is to tailor our assistance to the needs of individual groups, and to provide long-term support for groups whose efforts show the most promise. Beyond funding we tailor our assistance to the needs of individual groups to help them move their ideas across the dreaded “Valley of Death” toward economic sustainability.