Those eligible to apply are designers who currently show on-schedule at LFW and have received New Generation funding within the last three years, or are at a similar stage of business development.
The BFC said all applications would be considered but warned that companies with a turnover less than £100,000 or greater than £1 million were unlikely to be short listed.
Fashion Forward was established in 2006 as part of the BFC's support for young British talent. It has previously supported Giles Deacon, Jonathan Saunders and Sinha-Stanic.
Designers interested in applying should contact Katie Bain at the British Fashion Council on firstname.lastname@example.org.
The deadline is May 16.