V is a fully independent organisation that was set up with the aim of attracting 16- to 24-year-olds into volunteering or community action.
Pitches took place last week, and the charity is expected to make an announcement before the end of February.
As well as attempting to entice more 16- to 24-year-olds into volunteering for the charity, the winning agency will also be briefed with raising awareness of the organisation - and its website www.wearev.com - to possible investors and older, more skilled voluntary workers.
The work is likely to carry a small TV element, but most of it will be specifically targeted press and online work.
The charity's mission is to eventually entice one million youths into volunteering schemes, which can mean anything from working on community radio or running local sports clubs to improving the environment or working on international youth projects.
Its founding partners include ITV, MTV, Sky, Tesco, T-Mobile and KPMG, with recently added backers including HSBC, Channel 4 and GCap Media.