McCracken has coached British boxers Carl Froch and Howard Eastman
GB Boxing's performance director Rob McCracken has backed the creation of an elite female boxing squad to bring success at the 2012 Olympics.
Seven boxers will receive specialist training and have access to facilities at the Institute of Sport.
And McCracken said: "We're in our infancy as other nations have had fully funded programmes for years.
"But we believe we have the programme in place to bring the best out of them in a short space of time."
The seven-strong squad will be cut to three nearer the London Games, one for each weight class; flyweight, lightweight and middleweight.
And reigning world championship silver medallist Nicola Adams admitted that British boxing has some catching up to do compared to other nations.
I am targeting one thing, and that is a gold medal in London
British Boxer Nicola Adams
"We've got to try and catch up with countries who have been funded for years," the 27-year-old said.
"If we can be good without funding, we are going to be brilliant now funding is in place.
"I am targeting one thing, and that is a gold medal in London."
Competing with Adams for the 51kg flyweight slot will Portsmouth's Lucy O'Connor and Nina Smith of Essex.
Reigning European champion Natasha Jonas and Amanda Coulson are joined by teenager Ruth Raper at 60kg, while 18-year-old Savannah Marshall is the only named boxer at the 75kg weight.