PART I: THE COMPETITION

It would be impossible to summarize all of the emotions the ten finalists for the CFDA/Vogue Fashion Fund Award go through, because they go through many emotions, including but not limited to excitement, fear, anxiety, concern for the safety of their fashion-designer status, and relief, as in serious relief. The cash prize is big—$200,000 for the winner and $50,000 each for the two runners-up—but perhaps the bigger payout is the mentorships by seasoned designers and executives. Mentors don't necessarily need to tell victors how to drape a silk or whether to go A-line or Empire, but they will tell them how to approach fashion design as a business in the twenty-first century. As far as the Fashion Fund is concerned, the arrangement has worked out quite well—2004 winners Lazaro Hernandez and Jack McCollough of Proenza Schouler were advised by then-chief executive Rose Marie Bravo of Burberry and can now claim the Valentino Fashion Group as an investor. In 2005, runner-up Derek Lam was guided by Gucci's former president, Domenico De Sole, before being appointed designer for Tod's while continuing to work on his own label. And last year, winner Doo-Ri Chung was taken under the wing of Mickey Drexler, CEO and chairman of J.Crew. This potent combination of up-and-coming talent and venerable business experience is one way the fund hopes to keep the industry vibrant.

"Starter for Ten" has been edited for Style.com; the complete story appears in the November 2007 issue of Vogue.

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