Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

New fund will link polytechnics with business

23 September 2004

New fund will link polytechnics with business

Institutes of Technology and Polytechnics (ITPs) can now apply for funding from the ITP Business Links Fund, which received $21.5 million over four years in Budget 2004.

Associate Education Minister Steve Maharey announced the new fund at the ITPNZ “Research That Works” Conference in Hamilton today.

He encouraged institutions to think carefully about how they can build on their links with their core business and professional stakeholders, not just for the coming year but for the next four years of funding.

“The Tertiary Education Commission is expected to approve the first business engagement plans from ITPs early next year,” Steve Maharey said.

“All tertiary education organisations, but particularly institutes of technology and polytechnics, have to become more focused towards the needs of their communities and local economies. If they are aligned to the economic direction of their communities they will be able to contribute more strongly to regional development.

“This is not about making one-off incremental gains from projects that are peripheral to core business. Links to business needs should be one of the core roles for all ITPs.

“While the fund is primarily aimed at working with business, government recognises the importance of greater collaboration between ITPs and other key stakeholders such as industry training organisations. I encourage ITPs to work together to consider how best to access the funding.”

Funding for each ITP will be based on the content of its engagement plan, not the size of the institution. Each ITP will be able to apply for up to a maximum of $300,000 per academic year.

“Next year $5 million of funding will be available, so the average grant will be around $250,000,” Steve Maharey said. “I’m expecting some high quality plans to be put forward.”

Funding from the ITP Business Links Fund will rise to $7 million in 2007.

Funds available
$21.5 million is available over the next four years:
- $5 million in 2005
- $6 million in 2006
- $7 million in 2007
- $3.5 million in 2008 (half-year appropriation)

Allocation process ITPs will submit an initial proposal in the form of an engagement plan, and may request up to $300,000 for each academic year and no less than $100,000 per academic year.

The proposed business-engagement plan will cover a period of at least one year, but can cover up to four academic years.

The Tertiary Education Commission will use an expert panel to: assess the quality of business-engagement plans submitted carry out yearly evaluations of engagement plans in subsequent years.

Business-engagement plans that meet a sufficiently robust standard will receive funding (near the requested level) for up to four academic years. With $5 million funding available next year, the average grant is expected to be around $250,000.

The TEC will not fund engagement plans that are not up to standard and for which negotiations for improvements have not been successful.

Excellent performance may result in an increase in funding.

Timeline Engagement plans need to be supplied to TEC in late October / early November 2004, with funding decisions set to be made in late February 2005.

ENDS


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Budget 2022


At base, the political biffo back and forth on the merits of Budget 2022 comes down to only one thing. Who is the better manager of the economy and better steward of social wellbeing – National or Labour? In its own quiet way, the Treasury has buried a fascinating answer to the “who’s best at running an economy during a crisis?” question, at page 57 of the Fiscal Strategy section...
More>>



 
 

Government: Helps Supermarket Shoppers Get A Fair Deal
Urgent Budget night legislation to stop major supermarkets blocking competitors from accessing land for new stores has been introduced today, Minister of Commerce and Consumer Affairs Dr David Clark said... More>>


Budget 2022: A Secure Future In Difficult Times
Budget 2022 will help build a high wage, low emissions economy that provides greater economic security, while providing support to households affected by cost of living pressures... More>>

ALSO:

Budget: Climate Investments Provide Path To Economic Security
The Government is investing in New Zealand’s economic security by ensuring climate change funding moves away from short-term piecemeal responses and towards smart, long-term investment... More>>

ALSO:



National: Jacqui Dean To Retire From Parliament In 2023

Waitaki MP Jacqui Dean has announced that she will not be seeking re-election at the 2023 election. “I have advised the President and Leader of the National Party that I have decided not to put my name forward... More>>

Classification Office: Following Decision To Ban Manifesto The Buffalo Mass Shooting Livestream Is Now Banned
The livestream video of yesterday’s mass shooting in the United States has now been banned, Acting Chief Censor Rupert Ablett-Hampson announced this morning. The decision follows on from his decision yesterday to call in and ban the ‘manifesto... More>>

Borders: New Zealand Poised To Welcome International Students Back
New Zealand is fully reopening to international students and the Government is committed to help reinvigorate and strengthen the sector, Education Minister Chris Hipkins said today... More>>

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels