Ian Allchild, who formerly chaired the British Promotional Merchandise Association, has joined forces with publisher Simon Tilley to launch Promotional Marketing 2006.
The announcement comes as Allchild's non-compete agreement with Reed, which bought Incentive World in 2000, comes to an end.
Promotional Marketing 2006 will take place from 21-23 March at the Barbican.
Reed Exhibitions axed Incentive World this year (Event, January) after it failed to attract sufficient exhibitors. Reed took the decision to instead focus its attention on the show's autumn stablemate, the National Incentive Show, claiming there was not enough support for both.
Allchild is confident, however, that the new show will be a success.
"There are two major buying times in this industry and spring is one of them," he said.
"I've run successful shows for years and I think that it is in part due to the levels of customer care and trust the industry has in us.
"We are very involved in this industry and support it in a lot of ways."
Reed exhibition director Darren Whitehead said: "We think the research we did regarding the incentive industry in the UK is pretty conclusive, and we didn't feel that in its current state that there was room for two shows.
"Perhaps Promotional Marketing will have a more modern flavour and broader appeal but my experience is that with marketers having to carry out multi-functional roles, they need more than one reason to be out of the office for the day."