East of England businesses have been quick out of the blocks to win an estimated £53 million worth of London 2012 supply contracts.

The latest figures show that 376 contracts have been secured by companies in the region – all advertised via CompeteFor. (source: East of England Development)

Co-funded by the East of England Development Agency, CompeteFor is the online ‘dating agency’ for businesses to apply for contracts linked to the Games.

One successful company is Touch of Ginger. Based in Cambridge, Touch of Ginger has been awarded the license to supply London 2012 branded gifts, including limited edition stainless steel playing cards and a range of stainless steel wallet tools.

Gary Moore, managing director at Touch of Ginger, commented:

“The impact of the London 2012 licence on our business has been immense – and we’ve hardly started.

“First there is excitement in the company. Secondly we can see the commercial value beyond London 2012 with the numerous contracts and markets that will open up to us. We expect to grow our business by 50 per cent as a direct result of our involvement.”

Will Pope, chair of the East of England Development Agency, said:

“London 2012 is already providing a huge boost to the economy of the East of England, with benefits coming before, during and long after the Games. We have seen a really positive response from businesses, with over 15,000 now registered on CompeteFor. The fact that so many contracts have been won is a testament to the ambition and quality of businesses in the East.”

With a little over 18 months until the opening ceremony, the New Year provides the perfect opportunity for businesses to find out how they can make London 2012 count for their business with a variety of opportunities available.

Contracts worth approximately £250 million will be available through CompeteFor during 2011, ranging from the supply of podiums and costumes, to furniture and professional artists and performers.

Business prospects in the East of England will be boosted by the region’s close proximity to the Olympic Park site in London and the two events being held in the region – the mountain biking at Hadleigh Farm, Essex and the White Water Canoeing in Broxbourne, Hertfordshire.