Each Rotorua boxer is now getting at least $20 a week put into a bank account which they can use for their boxing needs.
"At this stage it has certainly lifted the morale in our club," local boxing coach Rex Jenkins, from the Central Boxing Club in Fordlands, said.
"The kids that actually have the sponsorships, they are certainly a lot keener because they know there is a little bit of money in a bank account for them."
Jenkins said costs for travel, training and equipment were a big issue for many families in Rotorua, and it was great to know someone was willing to help.
He said he first met Gibson at a boxing event in Ruatoria last year, then received a call from him about a month ago about the idea.
"And us living up here in the Fordblock area, it is not an easy area, but the fact is these kids are starting to realise that, hey, there is someone out there that is willing to help us. And for our kids to see that is really good."
Gibson, who is based in Christchurch as a property developer, said Tara made a big impact on him and he wanted to help other young boxers.
"For the $20 a week it was costing me to sponsor her, I realised it was costing a lot less than the joy I was getting from being in her life and helping her out," he said.
For example, he said, when she found out she was being sponsored it gave her a real boost.
"She went and told everyone that she had been sponsored and she was so proud of it.
"And every couple of weeks she goes and buys gloves or equipment."
He said he was lucky enough to be in a financial position to sponsor the children, all aged under 14.
Gibson has also started up the Tara Sharland My Young Boxer Sponsorship Scheme to allow other people in the public to sponsor young boxers in the same way.
Both Gibson and Jenkins agreed there were plenty of children who could benefit from the scheme.
Gibson said it may only be $5 a week but that could make a huge difference in a child's life. "You might be sponsoring the next Lydia Ko," he said.
-To join the Tara Sharland My Young Boxer Sponsorship Scheme, and help support a young boxer contact Rex Jenkins on 07 348 4212 or Kevin Gibson on 027 607 5280.