Deerness Valley School, in Ushaw Moor, Durham, is compiling an application to the government to become as a Business and Enterprise college.

If successful, the school could concentrate on literacy, IT and numeracy to meet national skills shortages and nurture an entrepreneurial spirit in its students. It would also benefit from top-of-the-range computer technology, which would also be accessible to the local community.

Teacher Lynette Shuttleworth, who is helping the school to prepare its bid, said: "We will ensure that the skills of our students will make them employable and hopefully we will be creating the entrepreneurs and leaders of the future."

But first Deerness Valley has to find £50,000 before the October deadline.

Already several small-scale fund-raising ventures have been staged including a World Cup non-uniform day held last Friday.

Lynette Shuttleworth said: "The small sums of money all add up, but we do have a mammoth task at the moment."

The school is looking for parents, former students and local people to join The Friends of Deerness Valley, to help with the bid and other issues facing the school.

It already has a packed year ahead with the launch of a new national centre of excellence for gymnastics in August.

In September a flexible timetable will be introduced for gymnasts training at the centre to help them to combine school work with the many hours of training involved in competing at high level.