The wrap, which was set to cost the government £7 million, was scrapped as part of budget cuts, and the 800-metre wrap was initially set to feature changing colours and iconic images of the Games.
Companies are now able to register their interest by February 18. However, sponsors will not be able to place logo or name branding on the wrap as venue advertising is banned at the Olympics.
"We have had significant interest in supplying the stadium 'wrap' from the private sector, so now is the time to start a formal tender process," said London organising committee CEO Paul Deighton.
"There are some exciting ideas around, and we are running a process that is fair to those organisations that have expressed an interest," he added.
