Elliot Atkinson, Go Tell Them, LD.DA and Yelena Smirnova have some celebrating to do: They've just been named as finalists for this year's Fashion Fringe at Covent Garden project.

The budding designers will all show capsule collections at September's London Fashion Week, when a judging panel led by Donatella Versace will select one label to receive more than £100,000 of funding and an on-schedule show at the next fashion week in February 2010.

Eun Jeong won the last Fashion Fringe competition, and she's considered a designer to watch in the London scene. But the runners-up don't have much to cry about. William Tempest lost out in last year's finals, and Emma Watson was in the front row of his next show.