SINGAPORE (April 26): YuuZoo Corporation announced Wednesday that it has signed a framework agreement with the Municipal Government of Harbin in China to set up and operate the first eSports College and eSports Development Park.

Under the agreement, the Harbin municipal government will provide the venue and the land, as well as provide finance, taxation, investment, publicity, and other services and concessions required.

YuuZoo will be responsible for the introduction of international eSports colleges, as well as the planning and design of both projects.

YuuZoo will also work with the Harbin municipal government to seek investors and developers for the projects.

“[eSports] is developing rapidly in user numbers, as well as in revenue. Harbin wants to stay in the forefront of this exciting new opportunity,” says Shan Guo Jun of the Municipal Government of Harbin.

“To do so, we need strong international partners,” he adds. “YuuZoo has through the successful organization of several high-profile events shown that it is the premier eSports event organizer in China.”

“Since 2013, American universities have recognised eSports as varsity sports, awarding players with prestigious scholarships and awards to attend their schools. However, there is no focused eSports university dominating this field,” says YuuZoo’s executive chairman, Thomas Zilliacus.

According to Zilliacus, YuuZoo sees an opportunity to fill that gap in China – the world’s largest and fastest growing eSports market.

Shares of YuuZoo closed 1.2 Singaporean cents lower at 7.9 cents on Wednesday.