Woods Hole Oceanographic Institution Announces Transformative $10 Million Gift from Grossman Family Foundation

Woods Hole, MA – Woods Hole Oceanographic Institution (WHOI) is delighted to announce a landmark $10 million gift from the Grossman Family Foundation to establish the Grossman Catalyst Fund. Designed to provide seed funding for innovative research and technology projects, this endowed fund will accelerate ocean science and engineering, spur innovation, and strengthen WHOI’s position at the forefront of ocean science and engineering for the global good.

The Grossman Catalyst Fund will support a new catalyst grant program, a competitive seed funding program designed to advance cutting-edge science and technology projects and provide vital support for researchers at all career stages. The grant program is designed to advance innovative ideas and position them for additional federal or philanthropic funds. WHOI principal investigators, including both the scientific and technical staffs, will be eligible to compete for Catalyst Grants.

“This extraordinary gift from the Grossman Family Foundation will drive discovery and empower WHOI to push the boundaries of ocean science,” said Peter de Menocal, President and Director of WHOI. “By supporting the early stages of scientific discovery and providing urgently needed resources to explore new ideas, the Grossman Catalyst Fund will enable our researchers to tackle some of the most pressing concerns affecting our oceans today, and to do so in a way that helps WHOI build momentum and advance the institution’s long-term financial health.”

The Grossman Catalyst Grant Program will have a particular focus on science and engineering initiatives at WHOI that have strong prospects for future development and growth and demonstrate significant potential to attract additional funding from diverse sources. This may include support from philanthropic foundations, individual gifts, and federal agencies such as the National Science Foundation, NASA, the National Oceanic and Atmospheric Administration, and the U.S. Office of Naval Research, as well as opportunities for commercialization.

“We are thrilled to support WHOI in its mission to advance ocean science,” said Steven M. Grossman, Chair of the Board of Trustees of the Grossman Family Foundation. “Our family is passionate about the ocean and the potential for innovation in oceanographic research to unlock new possibilities and new sources of support. We hope the Grossman Catalyst Fund will have a transformative impact on the field and at WHOI.”

To maximize the impact of the Fund, the Grossman Family Foundation has structured half their $10 million commitment gift as a challenge grant. The first $5 million of the gift will be paid over the first two years. The remaining $5 million will be paid as a dollar-for-dollar match as WHOI secures support for a companion fund sharing the same purpose. This will bring the endowment for the Catalyst Program to a total of $15 million once the challenge has been fully met, establishing an enduring legacy of discovery and innovation for generations to come.

###

About Woods Hole Oceanographic Institution

The Woods Hole Oceanographic Institution (WHOI) is a private, non-profit organization on Cape Cod, Massachusetts, dedicated to marine research, engineering, and higher education. Established in 1930, its primary mission is to understand the ocean and its interaction with the Earth as a whole, and to communicate an understanding of the ocean’s role in the changing global environment. WHOI’s pioneering discoveries stem from an ideal combination of science and engineering—one that has made it one of the most trusted and technically advanced leaders in basic and applied ocean research and exploration anywhere. WHOI is known for its multidisciplinary approach, superior ship operations, and unparalleled deep-sea robotics capabilities. We play a leading role in ocean observation and operate the most extensive suite of data-gathering platforms in the world. Top scientists, engineers, and students collaborate on more than 800 concurrent projects worldwide—both above and below the waves—pushing the boundaries of knowledge and possibility. For more information, please visit www.whoi.edu

About the Grossman Family Foundation

The Grossman Family Foundation’s primary mission is to support the developmental and educational needs of children living in under-resourced communities. The family is also supportive of initiatives in science and education which have the potential to demonstrate innovation and a lasting impact. The foundation’s commitment to fostering pioneering research and collaboration is exemplified by its generous support of WHOI’s mission.