Vanessa Hudgens made a show of her new boyfriend Austin Butler at the CFDA-Vogue event in New York City. (Photo by Jamie McCarthy/Getty Images)

Vanessa Hudgens made a show of her new boyfriend Austin Butler at the CFDA-Vogue event in New York City. (Photo by Jamie McCarthy/Getty Images)

Vanessa Hudgens and new boyfriend Austin Butler mingled among models, fashion designers and other celebrities at the 2013 CFDA/Vogue Fashion Fund Finalists Celebration in New York City. This year’s winners were Dao-Yi Chow and Maxwell Osborne for their label, Public School.

Runners-up were Juan Carlos Obando and Marc Alary.

Julianne Moore, who stars in the remake of the 1976 cult-classic “Carrie,” with Chloë Grace Moretz, introduced designer Tom Ford, who announced the winners.

Ford, the keynote speaker at the dinner afterward at Spring Studios advised the contestants to “trust your instincts.”

Winning the prize is no small feat. The contestants had to endure judging panels, runway shows, and studio tours all under the gaze of cameras, according to event co-sponsor Vogue.

Celebs Sparkle at CFDA-Vogue Fashion Fund
(Click Photos to Enlarge!)

(Photo by Jamie McCarthy/Getty Images)

But the payoff was just as sweet. The winners will get $300,000 for their label and the services of an industry veteran to help mentor their business to the next level. The runners-up get $100,000 and a mentorship as well

The resulting documentary will be shown on the Ovation cable channel.

Among those spotted in the crowd Monday night (Nov. 11) were actress and designer Ashley Olsen, actress Christina Ricci, singer Ciara and HBO “Girls” star Allison Williams.

Orlando Bloom, who recently split from his wife of three years Miranda Kerr, was also spotted in the crowd. He is now reportedly dating Condola Rashad, who currently stars with him on Broadway in modern adaptation of Shakespeare’s Romeo & Juliet.

Also representing Hollywood were actresses Taylor Schilling and Evan Rachel Wood. Hudgens was spotted with actor Austin Butler, whom she’s rumored to be dating.

The fashion industry was well represented by some of the top models in the world, including Lily Aldridge, Doutzen Kroes, Dree Hemmingway, Crystal Renn, Joan Smalls, Hilary Rhoda, Fei Fei Sun, Lily Donaldson and Karen Elson.

Among the fashion glitterati were Vogue US editor Anna Wintour and designers Kenneth Cole, Diane Von Furstenberg, Vera Wang, Gilles Mendel, Alexander Wang, Jason Wu and Zac Posen.

The contest marked its tenth year of fostering new designers which include the likes of Alexander Wang, Joseph Altuzarra and Greg Chait.

Check out the photos from the event and follow TheImproper on Twitter for the latest fashion news.