The campus drama marks the acting debuts of Alia Bhatt, Varun Dhawan and Siddarth Malhotra.
Johar told The Times of India: "Of course, it's a huge risk to make a movie on such a monumental scale with newcomers; but I feel nothing ventured is nothing gained.
"If established filmmakers like us won't leverage our hold in the industry to launch the newcomers, who will? I know as we don't have an established star cast in this film, we don't have a hallmark of expectations and we are shooting in the dark.
"It would have been much easier for me to make a movie with a big, ensemble star cast, but then it would have been yet another film in that genre."
The filmmaker added: "It'll be extremely gratifying for me, if the talent created and nurtured by me is accepted and loved by the audience."
Johar has revealed that the film will be his shortest to date despite his reputation for making large-scale dramas.
Model-turned-actor Malhotra described the film as his "dream debut".
Watch the video for 'The Disco Song' in Student of the Year: