The Peninsula Medical School has had a 40% increase in the number of students applying for its courses. This September the school starts on its third phase, which will see current students beginning work on hospital wards around the region.
The school has also secured funding for five education bursaries, each worth �5,000, for students who could otherwise not study medicine.
About 1,500 people are also expected to attend two open days this weekend.
The medical school, which opened in 2002, was started through a collaboration between the universities of Exeter and Plymouth in partnership with the NHS in the South West. It teaches at sites in Exeter, Plymouth and Truro.
In four years, the university wants to have 1,500 students registered and studying in the South West.
Professor John Tooke, Dean of Peninsula Medical School, said: "We are actively encouraging wider participation in medical education."