The European Social Fund and City Hall are jointly making £13m available to help young Londoners into work, education or training.
The programme is part of a £50 million funding package put together by the ESF, Mayor of London Boris Johnson and the Skills Funding Agency to help young Londoners over the next four years.
Announcing the funding, Mayor Johnson said: “Only too recently we’ve seen the damage that can be caused to our city by those who, for whatever reason, do not have a purpose in life.
“London’s young people are London’s future and it is vital that nobody is left behind and everyone has the same opportunity to learn, train or work.”