"Billmeir" is essentially in-house shorthand for grants for technical education and training. It stems from the Trust set up in 1957 by the late Jack Billmeir CBE, a shipowner and Prime Warden in 1962, for the purposes set out in the terms and conditions, which see: this Trust was amalgamated in 1980 with the Shipwrights' Company Educational Trust of 1899. Grants awarded may be divided into two types:

1. Block awards to the naval architecture faculties of the three universities (Glasgow/Strathclyde, Newcastle upon Tyne, Southampton) which offer courses in that and associated disciplines, to support vacation outplacements in industry. These grants are then administered by the faculty.
2. Awards to individuals to support training at one of the schools teaching modern (e.g.GRP) and traditional timber ship and boat building, naval architecture, and marine engineering.

These include:

• the Berkshire College of Agriculture (small engine and systems maintenance)
• Cornwall College, Falmouth
• James Watt College, Greenock
• International Boat building Training College, Lowestoft
• International School of Boat building, Lyme Regis
• Pembrokeshire College, Milford Haven
• Marine Technology Centre, Southampton City College
• Solent University

Individual grants range from a maximum of about £1500 to help with fees or living expenses whilst on course, down to £250 for tools. It is the Company's policy to make grant cheques payable to the school.