All hail the British fashion industry: The British Fashion Council (BFC) today announced the shortlist for the BFC/Vogue Designer Fashion Fund.

In its second year, the competition aims to provide much-needed financial support – to the tune of £200,000 as well as a mentoring support programme – to up and coming British designers, who, as we all know, don’t normally get much of a hand in these things.

The shortlist comprises of shoe brands Charlotte Olympia (by Charlotte Dellal, pictured) and Nicholas Kirkwood; lace and leather dynamo Christopher Kane; heritage British brand E. Tautz; print maestro Jonathan Saunders; as well as OSMAN (by designer Osman Yousefzada) ,

Peter Pilotto and Richard Nicoll, all of whom will present their collections and future plans to a judging panel of industry experts. Bearing in mind the last winner was Erdem, the stakes are pretty high.

BFC Chairman, Harold Tillman, said, “The British Fashion Council’s Vogue Designer Fashion Fund offers incredibly talented British designers an unparalleled opportunity.

The high level financial support and bespoke mentoring package will play a pivotal role in developing the winning designer business on an international platform.” The winner will be announced in the March 2011 issue of British Vogue.