As exclusively revealed on insidethegames yesterday, Our Team 2012 was launched at the British Olympic Association's (BOA) headquarters here today with the aim of helping meet the £25 million ($40 million) fundraising target set for Team 2012, the programme launched last September and backed by Visa, a TOP worldwide Olympic sponsor.

Up to 750 companies will be able to pay £9,900 ($15,805) per annum to be involved in the scheme, which includes a number of benefits such as being able to display an official Our Team 2012 logo, tickets to events in the build-up to the London Olympics and Paralympics and networking events where some of the 2,000 athletes aiming to be selected for the Games will be attending.

The Sports and Olympics Minister Hugh Robertson, who helped launch the scheme, said: "Sports funding has always come from a mixture of Exchequerer, Lottery and private sources.

"As Government, we have committed substantial Exchequer and Lottery funding for our elite athletes in the run-up to 2012 - but it has never been more important, given the difficult economic situation we're in, to have business behind our athletes.

"Supporting the Olympics is not just something the big multi-nationals can do - it is within the reach of every small and medium business in the UK and I'd encourage as many as possible to get involved.

"With just two years to go until the Games begin, this is a once-in-a-lifetime opportunity to support the UK's Team 2012 athletes on their home turf."

Team 2012 has already half-way to its target of £25 million ($40 million) but Andy Hunt, the chief executive of the BOA, warned that there is no time to relax to help ensure Britain performs well at the Games.

He said: "Across the UK athletes are now entering the criticial phase in their journey towards Olympic and Paralympic qualification and selection.

"The vital 'Our Team 2012' funding from SMEs will help to ensure that our athletes are fully resourced and provided with the tools that will give them the edge in an increasingly competitive international environment.

"With the help of 'Our Team 2012', British athletes will aim to deliver the inspirational performances that will unite the nation with pride and excitement in two years time."

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Related stories
July 2010: Exclusive - New scheme for SMEs to get involved in London 2012 to be launched
October 2009: John Steele - What happens next for Team 2012
September 2009: Visa to sponsor Team 2012