Oscar de la Renta Presenting the award to Proenza Schouler

The CFDA/Vogue Fashion Fund has announced this year's 10 contenders for the $200,000 award, which bestows $50,000 for each of two runners-up. Finalists include Albert Q. Swanepoel of Albertus Quartus, Alejandro Ingelmo, indie fave Alexander Wang, Irene Neuwirth, Jason Wu, Juan Carlos Obando, Swaim and Christina Hutson of Obedient Sons and Daughters, John Patrick of Organic, Richard Chai, and Lisa Mayock & Sophie  Buhai of Vena Cava, who were finalists last year as well.

Since its inception in 2003, the program has awarded over $1,000,000 to help build brands like Doo.Ri, Derek Lam, Proenza Schouler (above), Rodarte, Thakoon, Thom Browne and Trovata. The awards will be presented on November 17 at a private dinner in New York.

Really excited about this, crossing our fingers that we may get invited to the dinner...