BURNHOLME Community College is only halfway towards raising the £50,000 it needs to become York's first business college.

There are fears that unless the business community rallies to stump up the remaining £25,000 by October 15, the project to create a learning place to produce the region's best business brains could fail. Most of the £25,000 gleaned so far is through school fundraising, parents' donations, and some donations from business.

Land Securities, owner of York's Coppergate Centre, has stumped up £1,000; entrepreneur David Perry, former chief executive of Waddingtons, has pledged another £1,000; and Portakabin has verbally pledged help in kind to build a new conference centre at the college.

But in spite of letters going out to 200 heads of companies in the York area, pleading for promises of cash help before the deadline of October 15, there has otherwise been very little response so far.

Tony Gavin, head teacher, has sent them another letter stating: "It would be a huge disappointment to produce a successful bid only to fall at this financial hurdle.

"We have identified a genuine need in the city of York, the local education authority and the business community for a Business and Enterprise Specialist College, but we urgently need the funding.

"There have been several promising leads, but a lack of hard cash or pledges."

John Fletcher, head of careers and business link co-ordinator, said an application had been made to the Specialist Schools Trust to underwrite any shortfall. "But we can't rely on it. We need pledges."

The new status would build on the group college's already strong links through work experience, special projects in technology and mathematics and visits to industry. There would still be a wide range of GCSE subjects, but the big emphasis for the students, aged 11 to 16, would be on business skills and with more focus on IT and maths.

If the £50,000 goal is achieved, then the Government will consider giving the college a one-off capital payment of £100,000, plus £60,000 a year over the next four years.

The £100,000 would go towards a conference centre, which would be used by sponsoring businesses.

Involved firms would also be able to "cream off" top business studies students emerging at the college.

The project, which has already received the backing of York MP Hugh Bayley, comes as a new business district and conference centre as well as 3,000 homes are proposed for York Central, behind the National Railway Museum, and with phased business estate building taking place at Monks Cross, Huntington.

If your venture wants to invest in the future of the city's business brains, then phone Mr Fletcher at 01904 423881.

Updated: 08:39 Tuesday, September 16, 2003