BITZER, an esports agency billed as the first of its kind in Portugal, is investing money to stimulate the country's esports ecosystem.
This year and next, it will pump €20,000 into Portuguese esports organisations and players who want to form new teams.
The fund is exclusively for those operating in League of Legends and CSGO. Orgs can submit a project detailing their objectives and strategy for the next year and a half, which will be analysed by BITZER.
BITZER will then decide which organisations or line-ups will receive financial support.
"This support aims to improve the conditions of players and teams, enhance the training of the Portuguese players and finance entries and expenses related to the participation in relevant competitions," BLITZER said in a statement."
"We are offering this fund because the Portuguese esports ecosystem and market must grow. We need more teams and more and better players."
Tiago Fernandes, BITZER
So why is BITZER putting his fund together now, and how does it hope to make a return on investment?
Tiago Fernandes, BITZER COO, told Esports News UK: "We are offering this fund because the Portuguese esports ecosystem and market must grow. We need more teams and more and better players.
"Thus, we encourage the emergence of more teams, which are content for brands to sponsor and critical to reach audiences.
"Other than the Bitzer Ventures, we launched our own competitions – CSGO and LOL Superligas – and we will launch BITZER TV, an esports TV channel, that will debut late August."
João Duarte, CEO of YoungNetwork Group, added: "BITZER Ventures was planned for 2018 but given the feedback from the community, we feel that there are needs that urge to be fulfilled quickly, such as the support and recognition of Portuguese players. This is why we have anticipated the announcement of the fund."
Could we do with more esports agencies or opportunities like this in the UK? Or must more be done other than just throwing money at orgs?
In our opinion, the UK esports scene is crying out for funding and initiatives like this.
It might only be €20,000, but it's a start, and will no doubt encourage Portuguese esports hopefuls to take their orgs and teams to the next level.
Image source: FreeImages.com/Rui Lousao