Melbourne Cup winning owners Geoff and Sue Corrigan have donated $50,000 of their prize money to Dementia Australia to raise awareness of the condition.

The Corrigans, half owners of Vow And Dedclare, have been impacted personally by dementia and wanted to honour Geoff's father and two close friends.

Corrigan, the former member for Camden in the NSW Parliament, said they wanted to give something back to Dementia Australia.

"My Dad, Bill Corrigan had Alzheimer's disease for the final six years of his life and Sue and I were very affected by the terrible impact it had on him," Corrigan said.

"Dad couldn't remember us and it was terrible to see this beautiful man deteriorate the way he did.

"I wouldn't wish dementia on my worst enemy.

"Another friend Grant McBride, the former Member for the Entrance in the NSW Parliament died last year with dementia after retiring in 2011.

"Grant was the Minister for Gaming and Racing and he and I had a charity harness race at Harold Park in 2006.

"I had lunch with Grant a few months before his death and was shocked at how quickly he'd deteriorated.

"And on the Friday before The Cup Sue and I attended the funeral of Kim Caines a long-time friend in Camden.

"Her death affected us, probably more than Dad and Grant as it happened so quickly. She was our age."

Dementia Australia Acting CEO, Anthony Boffa said the Corrigans donation was a beautiful tribute and inportant in the public awareness of the ocnditon.

"I commend Geoff and Sue for their generosity and commitment to making a difference to the lives of people living with dementia, their families and carers," Boffa said.

"It is so important for people impacted by dementia in our community to share their own experiences and help others to know they are not alone."