In five years, 17 people have lost their lives through drownings in the district.
Between 2007 and 2011, 17 of 21 of Central Otago's drowning tragedies had been in the Wakatipu and Wanaka areas - 10 of those in still waters and seven in a pool.
Wakatipu Swim School director Jane Hughes said it was time the community took a step towards reducing the three deaths a year average.
"In New Zealand, we are only 30km travel to a big body of water and [swim safety] is so important."
Swimsafe Central Lakes aims to have all Wakatipu primary school pupils - 2500 of them from years 1 to 8 - in the pool for 30 free lessons by the end of this school year.
Although none of the drownings had been within the age group up to 14 years, Mrs Hughes said targeting children would be the most effective way to improve water safety.
In order to begin the programme, the organisation would have to raise any funding shortfall with sponsorships and donations.
The Queenstown Lakes District Council subsidies do not go towards the $300,000 target, but the council would subsidise admissions into council-owned facilities.
The money raised would go towards transport costs, as well as the swimming lessons, and would be distributed according to each school's proximity to the swimming pools.
Those schools further away would be given a bigger portion of the kitty.
Key goals of the initiative were to promote water safety among children, provide quality development and support for teachers, maximise access to all community pools, implement a funding plan and administer a database of information relevant to Swimsafe.
New Zealand Water Safety's South Island regional manager, Annette Godman, said the Central Otago free swim lesson scheme had been running for three years and she would like to see that extended to Wakatipu schools.
"We want to see an equilibrium across the region so will need to implement a fundraising project like that.
"It's all about the kids learning to swim and being safe on the water."
The initiative had been run throughout the Alexandra, Cromwell, Millers Flat and Roxburgh areas.
Swimsafe Central Lakes had approached local businesses and sponsors and the Queenstown Lakes District Council supportedthe proposed free programme, Ms Godman said.
Key local players involved in the initiative were Alpine Aqualand and Wakatipu aquatic centres.
Swimming New Zealand would provide swimming instructor training and water Safety New Zealand a good portion of the funding.
