Applicants are being sought for the second annual BT Emerging Fashion Designer Award, which is aimed at young and talented Australian fashion designers.

The award provides the winning fashion designer with a $10,000 Australian dollars (or $8,996 at current exchange) cash grant and a year’s financial planning services provided by BT Financial Group. It also provides the winner with two round-trip business class flights to New York, provided by Virgin Australia, to further their fashion ambitions and two mentoring sessions with two fashion industry designers and retailers, provided by the Australian Fashion Chamber. The total value of the prize is $40,000 Australian dollars ($35,984).

“Winning the BT award really helped with my business’ growth and having support with putting strategic plans in place for my business,” said Christopher Esber, the inaugural winner of the award in 2013.

BT is working with the Australian Fashion Chamber with the goal of strengthening the influence of Australian fashion in the global economy. Led by Edwina McCann, editor in chief of Vogue Australia, the AFC worked with BT to establish judging criteria for the winning designer. Applicants must be Australian fashion designers who have been in business less than seven years and have a volume of less than $2 million. The application process ends Jan. 31, and a winner will be selected on March 13. Applications should be submitted to btrunwayforsuccess.com.au.