A Games source confirmed that more than 750 firms have applied for a licence under the British Olympic Association’s ‘supplier recognition scheme’ in the first ten days of its operation.

More than 60 licences have already been approved with applications coming in from industry giants including Balfour Beatty, Lend Lease and ISG

Companies can apply to the BOA for a free licence which will allow them to promote their Olympic work at trade shows both in the UK and internationally, apply for industry awards for their London 2012 work and use their involvement in direct pitches and tender documents when competing for international contracts.

But the licence does not allow firms to promote their Olympic involvement via paid-for advertising.

Secretary of State for Culture, Media and Sport Maria Miller said: “I am delighted that those companies that played such a crucial role in making London 2012 an incredible success can now be rightly recognised.

“By lifting these restrictions we will be able to maximise the economic benefits from the Games.

“Now we have removed the barrier, companies can capitalise on the role they played at home and abroad by really selling their involvement in one of the biggest and most successful projects this country has ever put on.”

The supplier recognition scheme licence covers businesses that had contracts directly with LOCOG or the ODA.

It will also cover businesses which had contracts with LOCOG or ODA contractors and subcontractors, or firms that can demonstrate that they provided goods and services that were required for the delivery of the Games.