This money will be provided by a group of private investors, most of whom have been involved in the programme from the beginning. Current corporate investors include Microsoft, McKinsey & Company and the City of London Corporation.
"The way people think about their careers and the opportunities available in start-ups have come come crashing together, and that's creating a very special moment in which it is genuinely possible to change the way that top graduates think about what they do with their life," said Matt Clifford, CEO of Entrepreneur First.
"We're seeing people turn down jobs at big banks, consultancies, big technology firms - exactly the kinds of places that would be in anyone's top ten employers list. But people are actually saying I'm going to come and try and build a business, because that feels like the way to have the most impact, the way to learn the most, the way to develop most as a professional person, and that creates a really exciting opportunity."
Sign up for MIS Asia eNewsletters.