VET Business Summit Review
I was privileged to attend the 2023 ITECA VET Business Summit in Melbourne. My key takeaways from the summit are:
Growing Student Participation:
An apparent increase in the number of students enrolling in skills training, particularly with Independent RTOs, indicates a broadening horizon in the skills training space. While Victoria's approach has predominantly revolved around TAFE, the rise of independent RTOs shows the diverse and inclusive path the industry is taking.
Shifting Funding Patterns:
Victoria's increased investment in skills training is evident. However, the proportions allotted to independent providers have seen fluctuations. The three-pillar funding model, comprising Commonwealth Specific Purpose payments, State Government recurrent funding, and National Partnership Agreement funding, shows strategic allocations across various sectors.
Equality is Important:
Independent RTOs have emerged as leaders for fairness in education. Their remarkable support for students from rural and socio-economically disadvantaged backgrounds matches the spirit of inclusive education.
Excellence as the Norm:
Independent RTOs have built a reputation for delivering top-tier education. Compared to public providers, they have outperformed them in several satisfaction measures, establishing their central role in setting high educational standards.
The Reform Wave:
The summit highlighted the upcoming reforms meant to refresh the VET landscape. From changing funding agreements and introducing the STARS data system to updating
VET qualifications and workforce strategies, the future promises a more efficient, quality-focused, and student-centred VET system.
In summary, the 2023 VET Business Summit highlighted the changing trends in the skills training
sector in Victoria. The summit was a mix of thoughts on past successes and plans for future growth; all focused on improving quality, fairness, and student independence.