Launched in 2010, IWE takes place in Covent Garden's The Hospital Club during five days in November and celebrates all online business.
The agency has also been brought in to promote the affiliated Lovie Awards, sister to the well-known Webby Awards, to reward the best in European digital work.
The eight-month project brief will see the Borkowski.do team led by Louise Thompson and Nicola Lamb, with an initial focus on the awards.
This will include efforts to highlight some of last year's winners- including TweetDeck for best breakthrough - and highlighting the range of sectors that the awards touch on, including film, health and lifestyle to reach a wide audience.
The first IWE took place two years after the launch of its American equivalent in New York, with the brief coming about in the wake of support shown by agency founder Mark Borkowski around the event.
Borkowski, who will provide strategic counsel, said: 'It could have gone to any of the major cities in Europe but it came here. They have embedded it now, so part of our job is to get the balance right between spreading the word and not destroying its distinctive European flavour, which is very different to that of what is going on in the United States.'
He added: 'We have before us a unique chance to make huge waves in the European digital space and help to produce a festival with real cultural impact.'