UNIIQ is a €28.8M investment fund that helps entrepreneurs in South Holland to bring their innovation to the market faster. It provides capital to entrepreneurs so they can carry out their ideas and cross the “riskiest” phase between an innovative idea and a potential business. The fund was established in 2016 by TU Delft, Erasmus MC, Leiden University, and the regional development company InnovationQuarter.
Reefy says it will use the funds to carry out the first pilot projects in the Netherlands and at a beach resort in Mexico. The Reefy team now has four people, and will grow to six to be able to carry out the pilots and continue to develop the product.
50% coral reefs disappeared in 30 years
Coral reefs are natural breakwaters that shield coasts from erosion and flooding. Before the wave hits the beach, a good coral reef may absorb up to 97 per cent of its energy. This coastal protection continues to decline due to the increased mortality and degradation of coral reefs brought on by climate change, increasing the danger of water damage to beaches and structures, particularly those close to the shore.