The contest, run in partnership with Facebook, TLC and Daniel Marks, will see ten women awarded at a breakfast ceremony on March 11.
The winners will be selected from a judging line-up that includes Tess Alps, the executive chair at Thinkbox; Lindsay Pattison, the chief executive of Maxus UK and chief strategy officer of Maxus Worldwide; Camilla Harrisson the chief executive of M&C Saatchi; Catherine Kehoe, the managing director of retail brands and marketing at Lloyds Banking Group, and Susanna Dinnage, the general manager of Discovery Networks UK.
The panel will be co-chaired by Karen Blackett, the chief executive of MediaCom and Maisie McCabe, the news editor of Campaign and Media Week.
Nominations are invited from women from the middle echelons of management in agencies, media owners or client companies. More information on the competition and how to enter is available on the IPA's website.
Last year's winners were:
Victoria Appleby, associate director, MediaCom
Rachel Eyre, senior brand manager, Barclays
Alex Goat, client Services Director, Livity
Malin Hanas, creative director, RazorFish
Shelina Janmohamed, vice-president, Ogilvy Noor;
Gemma Lee, head of radio, Carat Manchester
Vicki Maguire, creative director, Grey London
Hannah Matthews, group marketing director, Karmarama
Lizzie Shupak, senior business strategist, LBi
Chrissy Totty, strategy director, Vizeum UK