The National Maritime Museum Cornwall is a fully independent museum, a development of the original FIMI (Falmouth International Maritime Initiative) partnership created in 1992 and the result of collaboration between the National Maritime Museum, Greenwich and the former Cornwall Maritime Museum in Falmouth.
The National Maritime Museum Greenwich had an impressive collection of small boats - some 120 craft of historical significance from Britain and overseas. For many years the Trustees of the Museum had been seeking a suitable waterfront location in which to create an imaginative and dynamic showcase for the boats, many of which can still be sailed. Falmouth, offering a waterside location, its own nautical heritage and one of the world's finest harbours represented an ideal site.
The Cornwall Maritime Museum evolved from a collection reflecting Cornwall's rich maritime history gathered over 150 years by the Royal Cornwall Polytechnic Society. In 1981 this collection was brought together as the Falmouth Maritime Museum, later changing to the Cornwall Maritime Museum. Since then the collection has grown and prospered.
Both museums applied separately to the Heritage Lottery Fund for assistance in developing their ideas. At the Fund's suggestion the two began talks that culminated in the formation of a joint venture to create a single entity. Although owing a great deal to both sponsoring museums, the new undertaking was to be independent, with its own governing body, financially self-supporting, and most importantly with displays to reflect its location and market.
A new Charitable Trust was created to oversee the project. In addition to the HLF, funding for the National Maritime Museum Cornwall has come from the South West Regional Development Agency, the European Regional Development Fund (5b funding programme), individuals and corporate sponsors.