The Fashion Awards presented by Pandora are the primary fundraiser for the BFC Foundation, formed in 2019, the BFC Foundation (Registered Charity Number: 1185152) supports the future growth and success of the British fashion industry by focusing on education, grant-giving, and business mentoring. Creating pathways to support British fashion talent is the core mission of the British Fashion Council. There is a need to continue and grow this support, increase the diversity of the talent pool and support businesses that are leading the way in terms of environmental and community impact.

The BFC Foundation furthers the charitable work of the British Fashion Council in championing British Fashion as a creative force on the world stage. The Foundation provides exceptional talent, access to education and support as they enter the industry to responsibly grow their business. The Foundation exists to support Britain’s fashion talent pipeline. It's work starts with young students who are curious about a fashion career during their secondary school years, through to university education and designer businesses.

The BFC Foundation is the only charity in the UK that comprehensively supports fashion talent from education and scholarships through emerging talent to growth funds. For the period March 2020 - March 2024, the BFC Foundation remitted a total of £4.3million across its initiatives.