Peroni Nastro Azzuro has sponsored the awards in collaboration with Alessi, the Italian company famous for its unusual designs for kitchen objects.
An exhibition at the Institute of Contemporary Arts will showcase submissions to the competition, which is open to amateur and professional designers alike.
It will feature designs ranging from tableware, small furniture and kitchenware, to glassware and gadgets.
The show runs at the ICA from September 30 to October 4 and is open to the public. It will then tour design venues and style bars across the country, from October onwards.
Alberto Alessi, responsible for marketing strategy and design management at Alessi, said: "I am glad to collaborate with Peroni Nastro Azzurro on the Peroni Blue Ribbon Design Awards, as aperitivo is an important part of Italian culture and a focus area for Alessi.
"We are excited to see how the designers will interpret the ritual of aperitivo and embrace the Italian approach to design."