The Regional and Specialist Training Fund is designed to respond to industry-led demand for specific skills in regional and specialist areas that are not being met by the current training market.
Regional and Specialist Training Fund
The Regional and Specialist Training Fund (RSTF) is a targeted funding stream under Skills First to help meet regional industry and local community training needs across Victoria.
The Regional and Specialist Training Fund will meet:
- Localised employer needs in regional Victoria (Regional).
- Specialised occupations of economic significance to Victoria (Specialist).
The Victorian Government has committed an initial $30 million to the Regional and Specialist Training Fund (RSTF). RSTF is a targeted funding stream that will meet regional industry and specific community training needs across Victoria.
Training providers will be assisted to deliver training by accessing higher subsidies and one-off grant payments for selected courses in specific regions. This funding will enable students to access training to meet local industry demand and specialised occupations.
RSTF will provide funding where there is a strong connection between industry, training and job outcomes.
The Regional and Specialist Training Fund will be administered via Higher Subsidies and one-off Grant Payments.
Higher subsidies will be offered to training providers in Victoria who meet the criteria outlined in the RSTF
Partnerships or consortia consisting of contracted training providers and key industry and community partners will be invited to submit a Business Case application which will be competitively assessed by the Department of Education and Training (the Department).
Funding will only be granted where a Business Case is made outlining how the higher subsidy alone is insufficient to cover the costs of course delivery.
Applications made for Higher Subsidies will be assessed against the following criteria:
- Job outcomes and industry alignment – 30%
- Regional need and impact – 20%
- Cost to deliver and value for money – 20%
- Student engagement and retention – 10%
- Training delivery capacity and approach – 10%
- Sustainability of approach – 10%
Applications for Grant Funding will be assessed how a higher subsidy is insufficient to meet the costs of delivering high quality training.
Applications for the Regional and Specialist Training Fund open on an ongoing basis.