This is the first time the software company has taken part in the Institution of Mechanical Engineers MX awards. The product innovation category was won by Autodesk customer Wright Bus in 2007.
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Mike Lucas, responsible for business development for Autodesk in Northern Europe, said, "We are excited to see the design creativity and innovation inherent in British manufacturing.
He said the industry had taken giant steps in product design and manufacturing through digital prototyping tools that reduce the need for physical prototypes.
"This saves time and costs, and improves design innovation through digitally analysing, simulating and testing the viability of concepts," said Lucas.
Other category sponsors for the MX 2008 awards, which take place in London on 26 June, include Barclays, PricewaterhouseCoopers, BP, and the government's manufacturing advisory service.
The closing date for entries to the competition is 28 February.