COMPANIES in the region will today learn how to work together to boost their chances of winning lucrative contracts for the London 2012 Olympics.

A masterclass, which is being held at the Gosforth Park Marriott Hotel, near Newcastle, is the first in a series of events over the next year to give regional businesses the best possible chance of securing work.

The event is organised by One NorthEast, which recently commissioned a study that found potentially one third of the region's firms - nearly 22,000 companies - are capable of supplying the London Games, primarily as sub-contractors in supply chains.

Today's masterclass will feature a talk by procurement experts PSL, who will tell the audience of 55 firms how they can access other major public and private sector contracts.

David Allison, One NorthEast's director of business and industry, said: "The London 2012 Games tops the list of major contracts we are determined to help North-East firms have the best possible chance of accessing.

"We are is leading the region's co-ordinated efforts to secure as much work as possible, and this series of masterclass events will give firms the chance to learn from industry experts with a proven track record of success."

Future events will focus on marketing and meeting buyers.