Mentioned in this article Games: Fortnite, Hearthstone, Overwatch Teams: Tempo Storm

PC app store Overwolf has partnered with Intel to create a $7M fund for competitive gaming apps.

The fund is taking applications now and will begin investing in Q4 2018.

$10K to $500K will be available for each developer based on need and the value of the project.

Intel and PC app store Overwolf have launched a joint $7M fund to invest in new apps and mods targeted at competitive gamers. Developers can submit applications on Overwolf’s website, and the fund will initially focus on developers working on apps specifically for Overwolf’s platform, or that use its overlay.

[perfectpullquote align=”left” cite=”” link=”” color=”” class=”” size=””]$10K to $500K will be invested in each approved developer.[/perfectpullquote]

Beginning in the fourth quarter of 2018, $10K to $500K will be invested in each approved developer, based on need and the value of the project. Rather than acquiring shares in the company developing the app or mod, the fund will be paid back through revenue sharing, providing that the app is monetized.

Overwolf CEO Uri Marchand said:

“We continuously look for opportunities to help developers create awesome experiences that make today’s top games even more fun to play. We’ve designed the fund’s evaluation process to be simple and fast so that developers can focus 100% of their efforts on making the best possible application, mod or game extension.”

Related Article: NVIDIA and CORSAIR to Provide Funding and Equipment for UC Berkeley Esports Community Center

Overwolf is a steam-like marketplace specifically for tools that provide additional information or features for competitive games. The company recently partnered with esports organization Tempo Storm to promote its tools for games like Hearthstone and Fortnite. The platform also hosts third party apps like Quarterback , which itself recently raised $2.5M in seed funding.

Intel is the title sponsor of ESL’s long-running Intel Extreme Masters tournament series, and is currently in multiyear sponsorship deals with both the Overwatch League and NBA 2K League. The company also recently teamed up with PUBG Corp. as the main sponsor for the PUBG Global Invitational.