The £1,000 Kathy Woodward Award for Learning supports people in print, packaging and graphic design while the Victor Watson Trophy is open to professionals under the age of 31.
BPIF marketing director Amy Hutchinson said: “Entering these awards is a fantastic way of furthering a career, while for companies it's a great way of recognising employees.”
The first award was launched in 2015 in memory of the BPIF's chief executive Kathy Woodward, who passed away in 2014. Webmart is sponsoring this year's award.
Hutchinson said: “The award marks what Kathy was all about. Under her leadership 250 people went through the Level 5 management programme, which she was instrumental in launching.”
Last year's winner Louise Hope put the money towards her BPIF Level 2 managers course at Precision Printing. The 2016 winner, Melanie Fox, an artwork supervisor at Multi Packaging Solutions, bought a laptop.
To apply for the £1,000 award, entrants must submit a 500-word proposal on why they should receive the award and how they would spend the money to further their careers.
Meanwhile, the Victor Watson Trophy is open to anyone under the age of 31 at the time of the presentation employed in the print supply chain, from printers to journalists and allied trades.
These include publishing, manufacturing, driving, cleaning, photography, graphic arts, making ink and recycling paper.
Until his death in 2015 Victor Watson was the president of Print Yorkshire, now known as CDi, Creative and Digital Industries.
The trophy winner will be encouraged to apply for a bursary of £1,500. The BPIF, the Printing Charity and the Worshipful Company of Makers of Playing Cards support this award.
Both awards will be presented in London on 4 July and applications for both should be sent to sophie.chater@bpif.org.uk by 5pm on 8 June.