Olympic contracts still up for grabs

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Over a billion pounds worth of Olympic and Paralympic contracts are still up for grabs, businesses attending the London 2012 Business Summit at ExCeL were told today.

500 businesses from across the UK heard that, with less than 1000 days to go to the London 2012 Olympic and Paralympic Games, there are still approximately £1.7 billion worth of contracts to be awarded by London Organising Committee (LOCOG) and Olympic Delivery Authority (ODA). This will generate thousands of additional business opportunities through the supply chains.

Firms learned about Olympic and international sporting business opportunities and the Government support on offer to help UK businesses shape up to win contracts. Key procurement leaders from ODA and LOCOG were also on hand to provide businesses the opportunity to pitch their company’s credentials.

Peter Mandelson, Business Secretary, said: “Today’s event showcases the £1.7 billion still on offer for businesses in the London 2012 Olympic project, and the springboard it provides to win business in other sporting events worldwide.

“With both Government and business working together, companies of all sizes across the UK can share in Olympic gold.”

Tessa Jowell, Olympics Minister, added: “Today shows that there are still plenty of opportunities for British businesses to benefit from the Olympics. In these tough economic times London 2012 is helping to keep order books busy. The skill and ingenuity of the whole country is helping deliver the Games, which are on time and on budget.”

Many of the new opportunities will be procured through CompeteFor – described as an online ‘London 2012 dating agency for businesses’ – a website which was set-up specifically to link potential suppliers and buyers in the London 2012 supply chain. Companies registered on this site can use the Solutions for Business products such as Train to Gain, the Manufacturing Advisory Service and Accessing International Markets. Already 40,000 businesses have been helped by Business Link as result of their interest in the Games. International companies registering are being contacted to scope inward investment potential and opportunity.