As a warm up ahead of the Welsh Rugby Union's Regional Age grade Championship and the Under 18 Wednesday League, the Ospreys, Scarlets, Blues and Dragons will meet in three rounds of fixtures finishing on September 11.
Whoever tops the table at the end of the tournament will take on the young Wallabies on December 1 during their tour of the United Kingdom.
While all four regions use this competition to prepare for the full Regional Age Grade Championship, north Wales side RGC 1404 will play a series of friendly matches - a decision mutually agreed by those from north Wales and the WRU National Academy.
This week's matches see last year's Regional Under 18 champions the Scarlets take on local rivals the Ospreys while the other fixture sees the Blues meet the Dragons.
Gethin Watts, WRU National Performance Manager, said: "The main role of these fixtures is to prepare each side for the Regional Under 18 Championship which starts in November, and the fixture against Australian Schools is a fantastic target for the teams.
"While the Scarlets, Ospreys, Blues and Dragons meet each other, RGC 1404 will be playing fixtures against sides in their area and across the border ahead of all five teams competing against one another later on in the season."
Wednesday's opening fixtures sees what looks like a mouth-watering clash between the Scarlets and the Ospreys. The latter field a number of players who have just returned from the Wales Under 18 tour of South Africa but Scarlets Academy Manager Kevin George remains unfazed.
"We've got a lot of boys from last year and some of the Wales Under 16 side so we are looking in pretty good shape," he said.
"While we're happy with ourselves, we know the Ospreys are a very strong side with some big boys in what is a very big pack.
"They've got Joe Thomas in the centre and Adam Beard at lock as well as a couple of other internationals.
"So we know it's going to be a difficult game but we have home advantage so hopefully that will help. Whatever happens, it's going to be very close."
On the prospect of playing against a young Australian side, George added: "What is different this year is that the winner of the first stage of the tournament gets to play against Australia Schools.
"That's a massive carrot for all four teams and everyone will be going all out for the chance to be a part of that match."
Scarlets: 15 Jack Parry 14 Rob Stevenson 13 Billy McBryde 12 Matthew Pearce 11 Shaun Pearce 10 Dan Jones 9 Kieran Hardy, 1 Jack Parry 2 Dafydd Hughes 3 Richard Bassett 4 Ryan Morgan 5 Stephen Leonard 6 Josh Macloed 7 Shaun Evans 8 Josh Middleton.
Replacements: Ifan Phillips, Warren James, Alex Williams, Alun Thomas, Charlie Randell, Ilan Wyn Jones, Ceri Morris, Kieran Jones.
Ospreys: 15 Joe Gage 14 Stuart Nicholas 13 Joe Thomas 12 Owen Watkin 11 Aaron Grabham 10 Luke Price 9 Mathew Aubery, 1 Harrison Walsh 2 Luke Davies 3 Sam Martin 4 Adam Beard 5 Mathew Dodd 6 Max Easy 7 Ben Davies 8 Jon Fox.
Replacements: Lewis Francis, Shaun Howard, Lloyd Rees, Rowan Davies, Josh Cole, Nial Popham, James Davies, Morgan Jones.
Blues: James Whittingham 14 Harry Thomas 13 Harri Millard 12 Lewis Morgan 11 Elis Wyn Benham 10 Tyler Williams 9 Mike Hale, 1 Rob Lewis 2 Liam Belcher 3 Kieron Azzarati 4 Ben Murphy 5 Seb Davies 6 Jordan Viggers 7 Owen Young 8 Hemi Barnes.
Replacements: Gerwyn Coleman, Joel Ringer, Rhys Force, Aled Evans, Rory Harris, Callum Hall, Josh Lloyd, Calum Haggett.
Dragons: 15 Connor Goode 14 Ryan Wilson 13 Tyler Morgan 12 Ben Snell 11 Lloyd Lewis 10 Arwel Robson 9 Owen Davies, 1 Keagan Bale 2 Jack Davies 3 Leon Brown 4 Ben Dacey 5 Gareth Allen 6 Lloyd Phillips 7 Nathan Hudd 8 Harrison Keddie (c).
Replacements: Jack Williams, Louis Tovey, Luke Leddington, Mathew Donovan, Ben Pesci, Seamus Casey, Taylor Dimmick, Steffan Olizanski.