The governing bodies of Olympic sports are to benefit from a new partnership with FTSE 100 companies to help improve their structures and performance.

The FTSE-BOA Initiative will partner top UK-based companies with the National Governing Bodies (NGBs) of both summer and winter Olympic sports with the aim of encouraging improvements in the organisation and governance of sport, through access to ideas, resources and personnel.

At a launch event when 10 NGBs and their new partners were unveiled, chair of the BOA, Lord Colin Moynihan stressed that the arrangement was not sponsorship, and argued that the deals would not have any effect upon the efforts of LOCOG to harness private investment.

“There are no commercial rights, ” he said, adding that companies would not be required to identify budgets and that the initiative had been given endorsments by Olympics minister Tessa Jowell, LOCOG and Sue Campbell, chair of UK Sport.

The ‘in-kind’ deals will entail NGBs identifying areas for development, which will be matched with suitable FTSE companies which are interested in supporting them.

Mark Makepeace, chief executive of FTSE Group said: “FTSE applauds the passion and pursuit of excellence that British Olympians and hopefuls exhibit.

"Support from FTSE 100 companies will help to strengthen British athletes by empowering them to develop the skills and knowledge they need to succeed.”

Photograph: Potential fencing competitors at the 2012 Olympics will benefit from British Fencing's partnership with international brewer SABMiller.