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The Dorchester Hotel in London will be awarding one talented designer with £25,000 to go towards their next collection as part of the Dorchester Collection Fashion competition.

This is the first time the international competition has taken place and the London hotel has been chosen to host the event. Designers were able to apply online earlier this year and the judges (pictured above) met today to discuss the shortlisted applicants who were named as Mary Katrantzou, Louise Goldin, Chau Har Lee, Hermoine de Paula and Thomas Tait.

The panel of judges includes Manolo Blahnik, one of the world's best known shoe designers (thanks to Carrie Bradshaw!) British fashion design star Giles Deacon, style icon The Hon. Daphne Guinness, milliner Stephen Jones, model and designer Yasmin Le Bon, Vanity Fair's contributing editor Elizabeth Saltzman and ES magazine's fashion director Gianluca Longo.

We think it is a great way to showcase British talent and can't wait to see which innovative designer is awarded the prize! The winner will be announced at an awards ceremony in November 2010 so watch this space...