The 120 athletes have secured IAS scholarships in sports including cycling, golf, hockey, lawn bowls, netball, triathlon as well as the academy's individual and athlete with a disability programs.

IAS general manager Shannon Fraser said the to-be inducted athletes had gone through a thorough process to secure a scholarship.

"It has been an extensive process that involved athletes submitting a written nomination followed by sporting trials and interviews with athletes and their parents," Fraser said.

The induction weekend will see new academy members exposed to a number of education modules including drugs in sport, performance psychology, injury management and prevention, public speaking, media awareness, sports nutrition and goal setting and time management. They will also undergo a series of fitness, physical and movement tests.

High profile graduates of the IAS include Sally Fitzgibbons (surfing), Shane and Brett Lee (cricket), Keiran Govers (hockey) David Smith (kayaking), David and Emma McKeon (swimming) and Josh and Ben Kersten (cycling), and the academy is hoping to see more of its graduates compete at the highest levels

"Our scholarships are about transforming young athletes with talent into elite athletes who go on to become national and world class athletes," Fraser said. "We were very proud to have so many IAS athletes go on to represent Australia at (the 2014) Commonwealth Games ... I am sure that we will have a number of athletes at the 2016 Rio Olympic and Paralympic Games."