I'd like to demonstrate how it's possible to 'bootstrap' up from a near-bare installation of Linux to something useful and productive. The Tiny Core and LFS projects demonstrate this well. However they are specific images for x86 based systems
Is there a similar project based around ARM based systems, and specifically the Raspberry Pi. If not how would one bootstrap a similar project. It would need to take into account the limited memory, storage and processor speed available and the non-free blob requirements, but should still be possible to build a small custom system.
Bonus points if compilation could be done on a separate host via cross-compiling, or using something like dist-cc over a bunch of Pis.