REEFS launches $20,000 grant program for Egypt’s reef-positive startups

22 / 09 / 2026

By Marwa Nassar - -

The REEFS Business Incubator, Egypt’s first business incubator dedicated to startups and SMEs working to protect and restore the Red Sea’s coral reefs, was launched in Cairo, offering selected ventures grants of up to $20,000 alongside a three-month incubation program.

The program was launched the United Nations Development Program Egypt (UNDP) in the presence of representatives from the Ministry of Local Development and Environment, the United Nations, research institutions and the private sector.

Funding, mentorship, market access:

Selected ventures will receive grant funding of up to $20,000 and take part in an intensive three-month program featuring one-to-one mentorship with specialized experts, scientific field and laboratory validation with partner research institutions, and support in obtaining accredited certifications and accessing markets.

The program will culminate in April 2027 with a final showcase, where participating ventures will present their businesses and their impact on coral reef protection to investors, local communities, government entities and partners.

Applications open through Oct. 15:

The first application round is open to startups and small and medium-sized enterprises (SMEs) in Egypt offering products or services that benefit the Red Sea’s reefs, including coastal ventures and land-based solutions operating elsewhere in the country.

Applications close on Oct. 15, 2026.

Building reef-positive business pipeline:

The Red Sea is home to more than 1,000 fish species and around 350 coral species, nearly 15% of which are found nowhere else in the world. Its reefs are also among the most resilient to climate change globally.

REEFS is delivered by Acasia Group under the Egyptian Red Sea Initiative (ERSI), implemented by UNDP in partnership with the Ministry of Local Development and Environment and supported by the Global Fund for Coral Reefs.

Ghimar Deeb, Deputy Resident Representative at UNDP Egypt, said REEFS is part of the broader nature-finance architecture being developed through ERSI, helping build a pipeline of commercially viable, reef-positive businesses and investment opportunities that can contribute to the sustainable development of the Red Sea.

Omar Sultan, CEO of Acasia Group, said REEFS is based on the belief that protecting the Red Sea can also be good business, connecting Egyptian founders with science, capital and community support to scale their companies and contribute to the blue economy.