The three-year business coaching programme is expected to generate 2,000 jobs and provide a £250m boost to the region's economy.
It is being led by the Northwest Regional Development Agency with additional funding from the EU.
The venture is aimed at `high growth' businesses, defined as new firms with the scope to achieve turnover of £500,000 within three years, or established SMEs with the ambition and capability to expand by at least 20 per cent a year.
Steven Broomhead, chief executive of the NWDA, said: "There are significant challenges to be faced in the economy, and the NWDA is introducing a range of measures to support all businesses.
"With every challenge, there are opportunities, and the aim of this scheme is to focus solely on those companies that have the aspiration and drive to achieve significant growth."
Winning Pitch, a PLUS-listed business based at One Central Park, Manchester, has been awarded the contract to deliver the programme.
Chief executive John Leach said: "This contract further cements the strong position we are building in the high growth coaching and consulting sector, particularly in the north west.
"We are delighted to add such a significant contract to our existing portfolio of projects, and particularly look forward to building a sustainable platform for entrepreneurial success in the region."
Winning Pitch bid competitively to win the contract, which runs until August 2011. Simon Caunt, assistant regional director at the Confederation of British Industry, said: "Helping north west business with aspirations for significant growth is an essential part of the wider business support available in the region.
"The changing economic climate will present different challenges for SMEs over the next year, and it is vital that government support is focused where it is needed most."
A £4.1m scheme to encourage businesses to work with colleges and universities in the north west has been launched.
Organisers will work with firms which do not normally engage with the further education knowledge base arising from research capabilities and expertise.
The Innovation Vouchers scheme was funded by the NWDA and the Northwest European Regional Development Fund programme to help companies reduce costs and increase productivity and competitiveness.
The vouchers are to be distributed in grants, worth up to £3,000, to 1,100 businesses to help them interact with colleges and universities over the next two years.
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