Three fashion designers in discussionBreaking into the world of fashion can be a long, hard road and the competition in Britain these days is fierce.

But a new project that will award £200,000 to support future stars will begin making the journey a little bit easier... for one emerging talent at least.

The BFC Vogue Designer Fashion Fund was launched yesterday and aims to provide one British-based designer with £200,000, along with mentoring support to help build their business on the international stage.

The launch is an initiative by the British Fashion Council (BFC) in collaboration with British Vogue magazine and coincides with the BFC's 25th anniversary year.

A similar scheme pioneered by American Vogue's Anna Wintour and the Council of Fashion designers of America, has already helped to launch the careers of Proenza Shouler, Jason Wu and Alexander Wang among others.

Those wishing to apply must be UK-based, have an established business, international stockists and a strong media profile, as well as a clear vision of how the prize money would help them grow a global brand.

A committee of patrons and industry experts will then select a shortlist and the judging will be covered in British Vogue's May 2010 edition.

Harold Tillman, chairman of the BFC, said that though they were "delighted to have raised the financing for the first year of the Fund," more funding was necessary to establish a permanent scheme.

He told the Telegraph: "Designer talent is the lifeblood of the fashion industry. Now is the time for the industry to directly support this talent and sign up to the Fund."

British Vogue editor Alexandra Shulman, who will chair the judging panel, said: "There are some strong designer businesses based here in the UK and many more emerging design talents. This Fund aims to help our most talented designers to become the global fashion brands of the future."

The closing date for applications is December 2.