An Irish firm is seeking to raise €1 million in funding for a joint venture to promote science and technology to US students.

GradNet is raising the funds through a Business Expansion Scheme (BES). It has entered a partnership with New York-based public service broadcaster WCNY to establish a US firm which will use the internet to encourage students' interest in science, technology, engineering and maths.

The scheme will be piloted in New York state from January.

GradNet is based on an Irish scheme running since 2001 to promote civics and politics to primary- and second-level students.

The Graduate (www.graduate.ie) is an online treasure hunt that runs each week during term time and has a prize fund of about €150,000 each year.

In keeping with the theme of the competition, prizes include educational trips to the EU Parliament in Strasbourg and the east coast of the US.

The success of The Graduate was noticed by a US contact of project co-ordinator Martin Heneghan, who felt the format could work across the Atlantic.

"The technology industry in the US is suffering from a lack of interest in science subjects on the part of students," explains Mr Heneghan. "It's the same audience we are targeting with The Graduate that they are trying to get more interested in the sciences."

About €100,000 will be spent with Foyle Technologies in Derry developing the website, which will provide detailed tracking and analysis to the media and education partners in the US.

"The format will be different in the US," says Mr Heneghan. "Rather than just browsing web pages and finding the answers, there will be detailed questions on the sciences so that it is a real learning process for the students. It will be designed to fit closely with their curriculum."

GradNet hopes to be able to tap into the massive funding for Science, Technology, Engineering and Maths (STEM) which is available at both state and federal level to ultimately expand across the US.