After six weeks of "intensive training" which will include evening classes, the 20 trainees will be placed into low decile schools or schools needing teachers in subjects that are hard to fill, such as science.
They will spend the next two years teaching there with a mentor at their school and 25 visits by university staff who will observe their progress.
"We are confident that after six weeks of intensive work, plus a vigorous selection process that we will have people highly competent to go into classrooms, even the most difficult classrooms."
Teach First NZ chief executive Shaun Sutton said the programme was based on overseas ones that had produced "highly effective teachers".
He dismissed criticisms that six weeks wasn't long enough.
"Yes it is six weeks of initial teacher training but remember they have done a three, if not four-year degree, in the subject they are teaching so they are highly qualified in their subject area.
"If they are teaching maths they have to have a degree with third year papers related to maths - it's not just any old degree."
Chief executive of education consultants Cognition Education Dr John Langley said the concept of trainee teachers having a degree before going into training was a good one - and recommended in a report to the Minister of Education a year ago.
"What this is an attempt to do I think, and a genuine attempt and I think to be applauded in that case, is to try and attract high-quality graduates into schools as teachers and the hope is of course that they will come in, perform well and stay in those schools. If they do, then I think in the long run it will make a huge difference to kids."
MIT director of external relations Stuart Middleton said the programme wouldn't be a silver bullet for attracting teachers to low decile schools, especially given many of the issues faced in such schools often needed teachers with experience.
The training course will start at the end of this year.