De Montfort University has launched a scheme to send half its students abroad to study or work at a cost of £1.5 million annually.
It will see around 11,000 students learn in a foreign country as part of their studies.
It says students will benefit from time at international universities and companies across the world, in countries such as Germany, China, Brazil and Australia.
The university will subsidise the costs for students who will each be offered a programme tailored to suit their own academic needs, from a four-week placement offering intensive language training and cultural awareness, to a whole year abroad working with a global company.
It is not clear yet how much each student would have to pay but this would depend how long they spent abroad and if they were studying or working.
Education leaders say they are reacting to calls from the Government to ensure graduates are better prepared to meet business needs in a competitive global market.
Professor Dominic Shellard, vice-chancellor of De Montfort University, in Leicester, said: "We applaud the recent announcement that UK students should be encouraged to broaden their horizons by travelling overseas to gain international experience. The Higher Education sector, Government and businesses must act together with all urgency to ensure swift and meaningful progress is made.
"That's why De Montfort University - supported by a network of global business partners and academic institutions - is committing to offer a meaningful international experience to 50 per cent of its students in the years ahead, through our ground-breaking #DMUglobal project."
Professor Shellard added: "We believe that immersion in other cultures, learning different languages, gaining new networks of friends and contacts, and the development of independence and resilience will add to students' personal enrichment and also ensure that they meet the needs of businesses now and in the future.
"The time for decisive action is right now if we are to ensure that our graduates are able to assist British business to compete and flourish in a fiercely competitive global marketplace."
A pilot programme will begin in the first quarter of 2014 and will accelerate in the following years.
DMU film and journalism student, Zalak Bhogaita, 19, said: "I know some of my friends who went abroad to teach had a fantastic time. I'd be interested to do something like this to gain more skills for the future. I think it would definitely enhance my CV and potentially open up further job opportunities."
Martin Traynor, chairman of Leicestershire's Chamber of Commerce, said: "This is a very welcome development. Something this recession has shown is that we are operating in a global market place, therefore our young people need to understand how other countries work. As highlighted in the CBI report, language skills in the UK are in deficit and we must address our linguistic skills among others."
The university will be investigating ways in which students can gain credit in their modules by studying overseas. The full programme is due to be rolled out in academic year 2014/15.
