"Corporates have to make 2 per cent of their investment in CSR, including in sports. But not many corporate houses are coming for contribution in sports," Sharan said.
"I am not saying that no corporate houses are not coming to help sports. They may do it by way of establishing academies, sponsorship for sportspersons and through fellowships. But till now, corporate involvement has not been much," he said after inaugurating PHD Chamber of Commerce Global Sports Convention 2014.
Sharan made a special mention of the contribution of Manipur in Indian sports, saying that the small northeastern state has been a powerhouse for so many years.
"Manipur is the cradle of Indian sports today. It is a small state but it has produced a number of international medal winners. It is amazing," he said.
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"Manipur sportspersons are all over the country and in recognition of the contribution of the state, the government has decided to establish a sports university in Manipur," said Sharan.
"We are aiming to have 4000-5000 sub-junior and junior athletes from various sports and train them at these academies. We cannot get much improvement in performance from those at the senior national camps.
"So these academies will serve as nurseries of future world champions. We have to catch them young, at 8-9 years of age."
Ex-India cricketer Madan Lal and former Asian marathon champion Sunita Godara also took part in the event.