The London 2012 Business Network was released at Manchester United’s Old Trafford stadium to a  packed house of more than 600 business people. A spokesperson for the Olympic Delivery Authority (ODA) confirmed that it would contain all kinds of contracts, including IT. The contractors having any kind of IT requirement, will advertise it via the website. It can be a small-scale IT maintenance, software or hardware, or any form of IT supply.

The entire network is divided into three segments: first, there is a division for information on forthcoming opportunities; second, a segment for business events; and, thirdly, a “CompeteFor” service, which the organization identifies as a “business dating agency” that is equipped to match companies to numerous openings for supplying London 2012 contractors. The ODA and the London Organising Committee are expecting an allocation of almost £6bn of work as part of a projected 75,000 future business opportunities. Around one fifth of these opportunities will to go through the CompeteFor system.

As per ODA chairman John Armitt, the ODA has already let contracts worth over £1bn. Most of these contracts have been taken by small and medium-sized companies amongst which almost half of them are outside of London. Business minister Stephen Timms believes that CompeteFor system will make businesses grow and develop their business for prosperity.

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