Think you’ve got what it takes to be the next big American fashion designer?

Nope, we’re not talking Project Runway here. Indeed, this is a more tangible way to obtain knowledge and receive guidance in the fashion industry.

The CFDA has announced an open call for its next group of Fashion Incubator participants for the 2012-2014 phase of the program. Industry insiders will select 10 designers from the pool of applicants. This phase’s sponsor is Target. Chosen designers will receive a two-year lease on studio space at a reduced rate, business mentoring and in-depth business development tutoring.

Current incubator inhabitants include Prabal Gurung, Alice Ritter, and Waris Ahluwalia. Go to CFDA.com for more info on applying, or contact j.stout@cfda.com or call 212.768.5712.