Stadium to Surf organiser Matt Black has for the past two years, along with Sport Otago, co-ordinated the run, which starts from Forsyth Barr Stadium and finishes at the St Clair Esplanade.
The event is in its third year in March. For the first two, money had been raised to fund a children's athletics co-ordinator.
Money will be still collected to keep the co-ordinator employed but another fund is to be established.
Black said the new fund was to help assist teenage athletes in their careers, such as travel to a national championships or to buy some equipment.
He said it would mainly be applied to athletes in minority sports, who found it difficult to secure funds to travel to events.
For every secondary school pupil who enters the Stadium to Surf run, $10 of the $25 entry fee will be set aside to go into the fund.
He said organisers would begin the fund with a $2000 deposit, and hoped to get more assistance from businesses.
Black said it was a simple and easy way for pupils to enter the event and also help sport at their level.
A trial for the race in March this year led to 45 St Hilda's Collegiate pupils entering the run, and he presented the school with $450 yesterday.
About 1200 people entered in the inaugural event and 2000 ran last year. He was hoping for a field of 2500 for the event next year, which would take place on March 9.
