Given $U,V \in Vect$ we can build the tensor product as $U \otimes V := F(U \times V) / F(N)$ where $F:Set \rightarrow Vect$ is the free functor and where
$N:={(au,v) - a(u,v), (u,av) - a(u,v), (u+u',w) - (u,w) - (u',w), (u,v+v') - (u,v) - (u,v') : a \in K; u, u' \in U; v, v' \in V }$
Then we have the projection $p:U \times V \rightarrow U \otimes V$. The universalism of the projection, says that it is initial amongst all morphisms whose kernel includes $F(N)$. This means that these morphisms will also be bilinear. Thus we see that the tensor morphism is initial amongst all morphisms that are bilinear.
How does one phrase this in the terminology of universal morphisms? The Wikipedia page gives an example of the tensor algebra where they start with a forgetful functor $U:K-Alg \rightarrow K-Vect$.
I don't see how something similar can work here since the tensor product is an element of $Vect$. Yet it seems to me that the notion of a universal morphism here is appropriate.