Swords native Sean said that the idea for iAwake came out of a business studies class with their teacher Karl Foster.
"Our secretary (Diarmuid O'Hanrahan) knew someone who was driving home and fell asleep at the wheel and crashed. We thought -- why can't we stop 4,000 deaths a year?"
The five teenagers have come up with the invention in collaboration with DCU to develop the product and software.
"If you are feeling tired, your head drops, your concentration levels fall.
"The technology that we have developed will prevent this," he said.
"It is an earpiece that is isolated only to the driver. When their head drops, it alerts the driver that they are at risk.
"We will be getting it manufactured in Asia and selling it to logistics companies, transport companies and members of the public."
The ambitious classmates are due to appear on the new series of Dragons' Den.
In the fifth series of the show, there are two episodes featuring 12 to 18-year-olds.
The Dragons won't take shares of the companies in the junior version, but a bursary of €2,000 will be up for grabs.