The ThinkChicago program will have double the number of participants in its second year, bringing 100 students to the city this fall.
Emanuel said Friday "there is nothing more important than attracting young leaders to our city."
Half the students will come from the University of Illinois. Beyond the state, students from Michigan, Minnesota, Ohio, Missouri, Indiana, and Wisconsin also have until Sept. 7 to apply.
They will meet business leaders and visit companies, including Microsoft, Google, Groupon, Grubhub, Accenture and Threadless.
They will also attend Chicago Ideas Week, which will bring together artists, engineers, scientists and economists in October.
Copyright 2012 The Associated Press.