The British Fashion Council (BFC) has announced the launch of the BFC/GQ Designer Menswear Fund, supported by luxury mobile provider Vertu.

The fund offers a prize of £200,000 (237,000 Euro) cash, including high level business mentoring and professional business services. The Fund is aimed at businesses that have been trading for a minimum of three years, have UK and international stockists, and who have graduated through the existing BFC talent support schemes, or are at a similar stage in their business.

A list of applicants will be selected by a judging panel of industry experts to attend an interview after which up to eight businesses will be short-listed based on their contribution to the reputation of the British fashion industry, commercial achievements to date, and their three year plan, including infrastructure and employment opportunities to support growth.

Caroline Rush, CEO of the British Fashion Council: “There could not be a better time to celebrate and support the flourishing British menswear industry. The Fund highlights the progress the menswear industry has made in the last couple of years and is a monumental development for young designers – it absolutely shows that creativity and business in the UK are not mutually exclusive.”