At least half the crew on each boat will be aged 25 or under, organisers said.
All the boats taking part are from ASTO’s sail training programme, which offers young people the chance to learn both sailing and team-building skills.
Kerry McMillan, ASTO’s chief executive, said: “This race was inspired by the RNLI’s 200th anniversary with the aim of raising awareness of the impact on, and value to, young people of sail training and adventure afloat generally.”