The board of directors of the Rhode Island Commerce Corporation recently announced a $59,000 grant to the Herreshoff Marine Museum (HMM) to expand its support of ocean technology and marine industries by installing and providing the use of a 5-ton jib crane onsite at its waterfront location.

The grant was one of 5 of a total of $361,614.72 in funding through the Innovation Network Matching Grant program. The program provides grants to organizations that support small businesses in key industries such as food and agriculture, technology, artificial intelligence, clean energy, defense, design, manufacturing, cyber security, and the ocean economy or businesses evaluating a transition to employee-ownership, regardless of industry.

“These awards represent a strategic investment in the future of Rhode Island’s economy,” said Secretary of Commerce Liz Tanner. “By supporting businesses in critical sectors we’re encouraging innovation while also laying the groundwork for sustainable job creation and long-term competitiveness.”

In addition to HMM, these other organizations were selected for FY25 awards: DESIGNxRI received $75,000 to support programming that assists high-growth startups in the design sector through mentorship, networking, and access to resources; Fuerza Laboral received $50,000 to provide technical assistance and support for small businesses exploring transitions to employee ownership; RIHub received $127,614.72 to expand services for high-growth startups, offering access to flexible workspace, capital resources, and specialized technical assistance; and Social Enterprise Greenhouse received $50,000 to assist small businesses in targeted industries with integrating artificial intelligence solutions to enhance operations and competitiveness.

Since awards were first made in 2016, the Innovation Network Matching Grant program has awarded 49 grants, totaling more than $5.5 million.

“We’re really grateful to RI Commerce for this grant to install a new crane on the museum’s waterfront to better support our growing Ocean Tech Hub,” said Bill Lynn, HMM’s executive director. “As more blue tech companies set up shop in Bristol, both on our campus and other places like Unity Park, providing public access to launch and haul capabilities for boats and devices up to five tons is becoming more and more important.”