Eight to 15-year-olds will audition in May. The course will be run by Bigfoot Theatre Company, in partnership with King's College, London.
The scheme is part of the Department for Education and Skills' Gifted & Talented arm of the London Challenge, a regional component of a national programme.
The summer school will culminate in four performances at venues across London.
Stephen Twigg, schools minister, said: "This is a once-in-a-lifetime opportunity for young people to work with professionals. We are committed to ensuring that young people are stretched and challenged."
Karl Wozny, director of Bigfoot, said: "By providing access and maintaining provision, we shall see more talent coming out of inner-city schools."
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