This week the CFDA/Vogue Fashion Fund awards ceremony was held at Skylight Soho in New York. And the number one is… Joseph Altuzarra! He just received $300,000, but the money is just a part of the prize for Altuzarra. He was honored for his promise as an emerging talent with both start-up money and mentorship from fashion industry leaders.

Altuzarra currently runs his own company in New York after previous experience working at Marc Jacobs, Proenza Shouler and Givenchy. One of his most characteristic and praised collections was the fall 2011 collection, which includes luxury, checkered oversized dresses and fur-trimmed army parkas.

Sharing the stage with Altuzarra were runners-up Pamela Love (Pamela Love Jewelry) and designers Shane Gabier and Chris Peters (Creatures of the Wind) who received each $100,000.

Previous winners include Doori Chung, Proenza Schouler and Alexander Wang.

Photo Through vogue.com