The University of Melbourne has signed a Memorandum of Understanding with IT consultancy firm Satyam Computer Services to provide a range of initiatives for students.
Satyam will conduct joint research with the university and also provide internships and permanent employment for students.
The deal will see up to 10 software development internships available to the university's students each year, with about 20 software engineer graduates taken in as permanent employees.
Participants will undergo three months of training in India and China, before they are placed in one of Satyam's 55 global locations.
MU deputy vice chancellor Professor Vijoleta Braach-Maksvytis said the internships will expose students to the commercial workplace while allowing research projects to be conducted.
"Students that will have the opportunity for internships with Satyam and will be exposed to real-world problems in a commercial environment [which] will clearly benefit both organizations," Braach-Maksvytis said.
"The alliance enables both parties to carry out joint research projects including futuristic IT solutions such as grid computing."
Satyam has set up its largest global development centre outside India in Melbourne.
Under a MoU signed last year with the university, students were assigned to onsite and offshore projects.