A lot of good suggestions from everyone that posted. I just wanted to state - being a parent and auditor - as soon as I read your your post - the red flags went up. I agree with ric-o that you should tell your parents and seek their counsel - hopefully they can provide some insight for you. I would proceed with caution as well with your teacher - at this point what he is doing could be ethically unsound given his position as your teacher - meaning he could hold your grade over your head if you engaged in this venture and things went sour - just one example. Further - depending on the push he is giving your class on this - you may wish to do again what ric-o suggested and ask him why you guys and not the techies - could just be he didn't think of them or wanted to provide your class an opportunity... however it seems suspicious.

'Course even waaaaaay back in my day we had a science teacher who would like to offer some of his students paying jobs working for him or doing some side jobs - nothing shady - but now thinking about it - it was akin to your situation - just be cautious and keep your parents involved on this.

Please let us know what happens and good luck!