The Investment Approach
The Investment Approach is about moving away from a reliance on funding based on inputs and outputs, to outcomes that focus more on broader social and economic outcomes for New Zealand.
It's about access to quality data and information, and using a broad range of sources to create a solid evidence base from which to make decisions. This includes information such as performance indicators, investment impacts, regional demand and student pathway data.
The aim is to develop an investment approach that is flexible, transparent, sustainable and adaptable over time. This will enable us and the sector to have the capacity and capability to meet the challenges now as well as in the future.
We will reinforce our role as a steward of the sector through partnering, collaborating and co-creating with key sector partners. This will help further demonstrate our commitment towards a more open and transparent investment programme with the sector.
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Our CE Tim Fowler talks about the Investment Approach: Overview and looking to the future
(YouTube, 3.04 minutes)
This is Part 1 of a series of short films for the Investment Approach.
Why is change needed?
We need to anticipate changes and future-proof the system, responding to demographic and economic forces that are already driving change.
Tertiary enrolments are reducing because of a drop-off in the number of students at school and more young people are choosing to go directly from school to work.
What will change look like?
The approach of the TEC is one of evolution, not revolution. Changes are going to evolve over several Plan rounds.
We expect to introduce minor operational changes in the 2017–2018 investment round, and look towards larger changes from 2019. This will involve:
- simplifying the method of engagement for all parties
- ensuring funding is targeted in line with the Government’s top priorities for tertiary investment
- funding providers with longer-term certainty where it is deserved
- measuring value of investment in terms of outcomes and not simply completions
- developing staircasing capability within the sector
- supporting TEOs to build their international reputations.
What might this mean for the Tertiary Education Sector?
As an organisation, we have embarked on a dedicated programme of engagement with the sector, to work on co-designing how we may operationalise a number of these potential changes to the way we invest.
This is will take time and input from a range of areas and it’s important that we keep you informed. Not only on the progress we are making but also the ways in which you can continue to be involved.
One way in which we will do this is creating a series of videos, which will let you know where we are at with progress so you can keep us honest and provide valuable impact on how this might impact on what you do.
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Hear more about what we heard from the initial round on the Investment Approach and how that has informed planning: Sector feedback and our response (Youtube, 2.49 minutes)
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Hear more about what we are working on in the Investment Approach right now: Work underway
(Youtube, 2.37 minutes)
Want to know more?
There are a number of ways you can find out more information:
27 November 2015
27 November 2015