Schools are being urged to apply for grants of up to £8,800 to help spread an Olympic buzz around other local schools in England.
The Plan Your 2012 project, funded by the Education Department, is part of efforts to get schools to sign up to London 2012's Get Set education network and build community links.
There are 42 schools, as part of a pilot project, who have received a grant.
One of these is the Leytonstone Business and Enterprise Specialist School in Waltham Forest, east London, which plans to use its grant to build interest among primary school pupils within their community and to develop the leadership skills of their own students.
The grants could mean that more schools and young people can be inspired by and benefit from local leadership, according to London 2012 chairman Lord Coe.
Children's minister Tim Loughton said: "It's really encouraging to see so many schools keen to take part - from a primary setting up a local league for Olympic sports to a secondary school arranging a Cultural Olympiad. With Get Set and Plan your 2012 we are giving schools the chance to create their own legacy that will last far beyond 2012."
School can go online - at www.london2012.com/getset - to find out more information.
The second round of applications will open on November 28 and close on January 6, 2012.