The joint funding from the Mayor of London’s Office and the European Social Fund will be focused on young people with learning disabilities and those at risk of dropping out of school or college.
The programme, to be delivered by the Greater London Authority, will form part of a £50m pot that will support young people in London over the next four years.
Mayor of London Boris 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. That means carefully targeting this valuable investment in our city to catch those young Londoners who are at risk at the earliest opportunity."
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