29/11/2010 14:55 GMT | Updated 22/05/2015 10:12 BST

British Fashion Council Announces Fashion Fund Finalists

Jonathan Saunders catwalk Jonathan Saunders s/s 2011. Photo courtesy of the British Fashion Council

If you're on the hunt for the Next Big Thing when it comes to British fashion designers, the British Fashion Council's Fashion Fund competition is a good place to start.

The shortlist for this year's award has been announced, and it is a strong selection with Charlotte Olympia, Christopher Kane, E.Tautz, Jonathan Saunders, OSMAN, Peter Pilotto and Richard Nicoll all vying for the prize.

All have been identified has having what it takes to make the leap from hip London-based label to international fashion heavyweight. The winner will be awarded £200,000-worth of investment into their business as well as mentoring from some of the fashion industry's finest - so it's not a prize be a sniffed at.

The initiative was launched in 2008 as a legacy project for the BFC's 25th anniversary celebrations, and Erdem Moralioglu was the inaugural winner of the award, which was announced earlier this year.

Since receiving the accolade, Erdem has enjoyed international acclaim and boasts A-list fans including Keira Knightley, Sienna Miller, Chloe Sevigny, Claudia Schiffer, and Samantha Cameron. And, our sources tell us, Mr Moralioglu is lined up to show at Parish Fashion Week next season.

Who's your money on for winning this year's top spot? Leave a comment below and let us know!