Olympics 2012

London Mayor Boris Johnson will use the Beijing Olympics to launch a global search for ideas and money to stop London's Olympic Park becoming a white elephant.

Johnson told business leaders at a Confederation of British Industry (CBI) summit in London that he is open to ideas from everywhere which will make sure that there is a real legacy from the park.

People close to Johnson have told me that the new mayor has spent a lot of time in his first weeks in office on the Olympics. He plans to put together a special unit of business and council leaders which will be responsible for legacy.

There is a growing belief that private companies - and not just multi-national companies - have to play a key role in making sure that all the venues are used after the Games are over.

Lord Mawson, a social entrepreneur, runs a business, health and community centre just a short distance from the Olympic Park in one of the poorest parts of London.

The Bromley by Bow Centre is known internationally for pioneering a new approach to regeneration by engaging with the local community.

He told me that small companies and communities have to work in the same way at the Olympic Park. And the work has to start now on finding the groups and businesses who want to move into the venues after the Games are over.

Of course the main stadium is likely to be used for athletics and by a football or rugby club after the Games. But there is also scope for offices and rooms to be used every day of the week, as health centres, nurseries or small businesses.

Mawson believes a big-name entrepreneur needs to be given power to make all this happen on a local scale. Interestingly this is also the belief of the business community and Johnson's new unit is expected to include senior business figures who will look for funding nationally and internationally.

The name of former Conservative MP Michael Heseltine was being discussed in the corridors of the CBI conference as a possible candidate to play a key role.

Certainly there is a strong argument for a businessman of his stature to step into the Olympic legacy game - he is a senior figure who knows how to deal with government as well as get things done in commerce.