Criteria for Assessing Applications

37. The following criteria will be considered for funding applications:

a) How well the proposed project matches with the high level targeting priorities of innovation, an emphasis on developing offshore education activities and an initial emphasis on proposals relating to China, other Asian countries or the Gulf States.

b) The benefits that will result from the project for example:

• Short-medium term financial return from the project itself.
• Longer-term financial returns that are likely to result from opportunities the project opens up - what is the scale and nature of future opportunities? For example will the project have flow-on effects in attracting students to study onshore in New Zealand.
• General benefit to New Zealand's profile as a provider of education services - linkages to education diplomacy and overseas aid considerations.
• Benefits to other New Zealand export educators (and associated industries).
• Benefits to domestic education outcomes through greater internationalisation, knowledge exchange, professional development opportunities and opportunities for student mobility.

c) The likelihood of success of the proposal and the level of risk associated with it. This will require a robust, thorough and well researched proposal. Realistic timelines and costings will be required, along with a plan for risk management and mitigation. The applicant must also demonstrate the ability to undertake any subsequent stages of a project, resulting from the work co-funded through the EEIP.

d) The financial and business planning underpinning the proposal. The importance of the following sections in the assessment of project applications must be stressed to all applicants, particularly relating to the quality, detail, and depth of the following:

• Project risk analysis (including internal and external factors);
• Business planning (including expected revenue streams, business plans, marketing plans, etc);
• A high level of budgetary detail (including clear definitions and itemisation of `overhead' expenses); and
• Proof of the sustainability of the proposed project. These projects must be sustainable once EEIP funding is complete.

The track record of the applicants will also be important here. The applicant must have fulfilled all appropriate registration and quality assurance requirements, and be well-managed and financially sound. Applicants must demonstrate that they are in compliance with all statutory requirements and Quality Assurance Bodies' policies and criteria (and have been for a reasonable period). Quality indicators such as length of audit cycles, compliance notices and complaints will also be considered in the selection process as appropriate. A record of achieving high quality educational outcomes will be required.

e) The proposal's fit with the applicant's overall education and business strategies - e.g. if a provider of domestic education how will the proposed project impact on domestic education performance and resources? It is important that any risks to domestic education outcomes are identified and managed, as well as potential benefits.