Workforce Training Innovation Fund launched in Victoria to align training with rapidly evolving industry needs
The Victorian government has set up a new Workforce Training Innovation Fund (WTIF) with an initial investment of $40 million to support industry and employers in addressing their rapidly evolving workplace skills development needs.
Minister for Training and Skills Gayle Tierney said, “With a rapidly changing economy, we’re providing more support to industry to ensure real training leads to real jobs.”
It will support job growth and innovation in the Labor Government’s six priority industry sectors: 1) Medical technology and pharmaceuticals, 2) New energy technology, 3) Food and fibre, 4) Transport, defence and construction technology, 5) International education and 6) Professional services. In 2015, the Andrews Labor Government had identified these 6 as high growth sectors which would drive future economic growth.
The fund is part of the Victorian government’s Skills First initiative, which aims to improve the quality, stability and adaptability Victorian training and TAFE (Technical and Further Education) System through an overhaul from January 2017.
WTIF will bring about greater alignment between training and industry requirements, by providing grant funding of up to $5 million for developing industry and training provider partnerships, which can deliver innovative strategies for improving training outcomes and the relevance of training to industry. Seed funding of up to $50,000 is also available to help applicants develop, scope and prepare partnerships and projects.
It will focus on initiatives which help increase productivity in the workplace and ensure existing workers and students looking to enter the workforce have the skills they need to take up jobs in new and emerging industries.
Read the media release here.