Callinectes Boatworks of Kennebunkport, Maine, received a Maine Technology Institute seed grant of $12,500 to develop production tooling for a new runabout.
Last summer, the company launched a "modern retro-styled" 16-foot runabout and said the it garnered attention at boat shows where it was showcased.
The first hull from the new tooling is scheduled to hit the production floor in June.
"MTI support, at this juncture of business startup and global economic conditions, is of tremendous advantage to Callinectes Boatworks," owner Glen Shivel said in a statement.
"Support will allow the company to continue focusing in-house funds on building brand recognition, product marketing and manufacturing refinements, thus helping secure a brighter future in this economic setting," he added.