Applications are now open for the annual BFC/Vogue Designer Fashion Fund. The competition offers one brand or designer a cash prize of £200,000 to help grow their business. In addition to this the winner will also receive a one of a kind 12 month mentoring programme.

Applicants hoping to be in with a chance of winning the prize fund are asked to apply online and demonstrate clearly how they believe the money would help their business grow.

The deadline for the competition is the 17th October. The winner will be selected by a panel including, Vogue Editor, Alexandra Shulman and, CEO of the BFC, Caroline Rush.

Shulman said: “Vogue and the BFC are committed to continuing to help the best emerging fashion talent. This prize has been life-changing for the previous winners and the opportunities presented by both winning it and being shortlisted are not to be missed.”

This will be the sixth year in a row that the competition has gone ahead, with previous winners including Peter Pilotto, Nicholas Kirkwood, Chritsopher Kane, Erdem and Jonathan Saunders. So, for those who have ever fancied following in their footsteps; now is your chance.

Reported by Orla Wallis. Image © Darren Gerrish.