The initiative will identify and back talented youngsters in a range of sports.
King of Shaves will also provide financial support at grass-roots level, with a minimum bursary of £1000.
The company hopes to encourage a generation of world-class athletes and increase fitness levels.
Colin Jackson, the 110m hurdles world record holder, has lent his support to the campaign.
The scheme will initially operate in Hertfordshire and Buckinghamshire, but the company hopes to extend it nationwide.
Paul Dazeley, one of the UK's best young fencers, has already been signed up as the first recipient of a Young Blades bursary. Aged just 15, he is the number two cadet British fencer.
King of Shaves awarded its £1m media planning and buying business to BLM late last year (Marketing, November 20 2003).
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