Tagged as a "business dating agency", the website allows companies to create a profile, which is then used to match contracts with suitable suppliers.
The CompeteFor website, www.competefor.com, is expected to allocate around a fifth of London 2012 supply chain opportunities.
Olympic Delivery Authority (ODA) chairman John Armitt said this year represents a huge chance for UK businesses: "(The site) will give companies large and small a once-in-a-lifetime opportunity to support the delivery of the 2012 Games."
The ODA and the London Organising Committee of the Olympic Games (LOCOG) will advertise their direct contract opportunities on CompeteFor, and direct London 2012 contractors appointed will be encouraged to use it to advertise their supply chain opportunities.
Once companies have created a successful profile they are automatically matched to opportunities that suit their business and invited to apply. The buyer advertising the contract then selects a shortlist and invites them to formally tender.
The network was launched on 16 January by Armitt, LOCOG chairman Sebastian Coe and Olympics minister Tessa Jowell. She said: "This is one of the keys to unlocking the contracts that will be up for grabs thanks to the Olympic and Paralympic Games. Businesses, their employees and the wider economy will all reap the rewards. This is the concrete dividend the UK will receive from London 2012, leaving a positive legacy for decades."
Details of winning bidders will be published on CompeteFor and unsuccessful bidders will receive feedback from the buyer.
- For details of the London 2012 Business Network see www. london2012.com/business
The website is one part of the London 2012 Business Network, which can be accessed at www.london2012.com/business.