Agencies can nominate their potential future leaders, who can be working within any department but have to be at director level with a minimum of six years’ experience.
Following a round of interviews, up to 20 successful applicants will be selected to undertake the six-month programme, which includes coaching at a senior level with an executive coach and mentoring sessions with leading industry figures.
The £2,000 course will cover how to run a business, from the skills needed for growing revenue and profit to the skills of being a good leader.
More than 10 agency leaders have signed up as mentors including: Ian Millner, chairman of the MAA and chief executive of Iris; Mike Dodds, chief executive of Proximity and Hugh Robertson, chief executive of RPM.
The mentors will meet with their students three times across the six-month programme. They will be matched on experience, ambitions and personality.
Millner said: "Nurturing future leaders can be difficult because the qualities that are required to become the next managing director are in the most part acquired through experience and intuition.
"The Future Leaders Academy will help to fast track the industry stars of tomorrow through mentoring and close fellowship with existing agency leaders and a network of peers."Follow @loullamae_es