The BFC/Vogue Designer Fashion Fund to crown three winners next year

London - The British Fashion Council has revealed a new format for the next cycle of its annual competition the BFC/Vogue Designer Fashion Fund.

Rather than naming one recipient as the winner of the fund, the BFC will crown three winners, offering even more support and aid to up and coming designers. In 2017, the 200,000 pounds cash prize, which is used to offer the winner designer financial support to create a solid business infrastructure, will be spilt between three winners instead of the one.

All three winners will also receive mentorship from the British Fashion Council, which includes access to potential investors and expert advice from key fashion industry members. The application and award process for next year's cycle has also been reviewed "to embrace the impact that hiring experienced talent has had on previous winners", while recognising how important it is to bring new knowledge to companies.

The BFC will assess the effectiveness of its new format and the panel will then decide whether or not to continue with the model or return to the former one the year after. Designers who have been shortlisted for the fund will be interviewed by the fund committee, chaired Vogue editor-in-chief Alexandra Shulman.

The BFC/Vogue Designer Fashion Fund has been given to some of the largest names in the British fashion industry, including Erdem, Christopher Kane, Jonathan Saunders, Nicholas Kirkwood and Mary Katrantzou.

Photo: Shortlisted of designers for the 2016 BFC/Vogue Fashion Fund, via BFC