The programme, called The Bunker, is open to graduates, undergraduates and talent from different creative backgrounds.
It launches this week with nine students from The Miami Ad School, with which iris has worked with since 2006 and is replacing Saatchi & Saatchi as the school’s London Greenhouse agency.
The Bunker will take in 16 applicants each quarter. Each intake will comprise a mixture of students, graduates and creative people from backgrounds such as fashion, art, photography, film, writing and design.
Next year the agency plans to open The Bunker at its offices around the world, which include New York, Singapore and Sydney.
Grant Hunter, creative director of iris London, said: "Graduate intake is down across the industry and those looking to gain essential experience are really struggling to get placements.
"The Bunker initiative offers an opportunity to kick-start careers by exposing new talent to a diverse range of skills, disciplines and client accounts."