Much was expected from the two New Zealand riders in Beijing but Marc Willers crashed out in the semifinals and Sarah Walker was fourth in the final.
"I want four New Zealand riders to qualify for London and I expect them to win two medals," Cools told the Otago Daily Times.
"I'm confident it can be done but the athletes have to do the work. I'm excited about what will happen here in the next four years."
Cools (30) is in Dunedin for the New Zealand Sports Medicine and Science Conference at the Dunedin Town Hall over the next three days.
He arrived in the city yesterday morning after a long flight from his home in Calgary, Canada.
Cools, who started riding BMX bikes at the age of 5, is a former Canadian representative.
He won one professional and eight Canadian amateur titles.
Since retiring from serious racing because of a slipped disc, Cools has established a formidable record as a coach.
He has coached two riders to world senior titles: his sister Samantha (22) in 2004 andBubba Harris in 2005.
Cools has also coached 44 junior riders to podium finishes at major international events.
Bike New Zealand High Performance director Mark Elliott recognised Cools' ability and has signed a contract with him to work for New Zealand BMX for the next four years.
"The talent you have in New Zealand is incredible," Cools said.
"It is my job to lift it to the next level."
Since returning from Beijing, where New Zealand cyclists gained two medals and two fourth placings, Elliott has put together a team to take BikeNZ to the London Olympics.
New recruits to the team are Cools and Dale Cheatley, who has been appointed coaching manager for BikeNZ.
Other key officials at the planning meeting in Dunedin yesterday were head track coach Tim Carswell and sports scientist Craig Palmer.
"We have 100 people in our high performance programme," Elliott said.
"The cost of our budget will be between two and three million dollars a year."
BikeNZ started its planning last April,"Our planning meeting today is to make sure we get cyclists on the podium at London," Elliott said.
"We have prioritised what we want to focus on in our programme for the next four years."
Elliott said there would be 18 opportunities for cycling medals at the London Games, but realistically New Zealand cyclists would have eight chances.
"I would like to think we can turn 50% of our opportunities into medals," Elliott said.
"But it comes down to focusing our resources in the right places."
BikeNZ will present its high performance business plan to Sparc in December.
