ROI opportunity for established Tertiary Education Organisation (TEO) to acquire ServiceIQ Work-based Learning
Tender ID: 605986
Tender Details
Tender Description
ServiceIQ is exploring transition options into an existing Tertiary Education Organisation (TEO) to ensure continuity of work-based learning for the service sectors it supports (retail, hospitality, tourism, travel, museums, aviation, regulatory practice, security, laundry), in line with the Government’s Vocational Education and Training (VET) system reset and the transition to Industry Skills Boards (ISBs).
On 1 January 2026 ServiceIQ transitioned from being a work-based learning division of the New Zealand Institute of Skills and Training (NZIST) or what was formerly known as Te Pūkenga. All work-based learning functions of NZIST transitioned to the eight newly established ISBs on 1 January. These ISBs will temporarily assume arranging training functions during a two-year transition period (2026-2027) before becoming standards-setting bodies only from 1 January 2028. All work-based learning delivery must transfer to private training establishments, institutes of technology and polytechnics, or wānanga by the end of 2027.
This has initiated a two-year process, with the following two phases:
- From 2026, work-based learning will begin transitioning to a new industry-led independent model called ISBs.
- By 2028, all work-based learning will have transitioned out of the ISBs, and into a new provider.
In 2025, between August 13 and August 25, ServiceIQ conducted an extensive stakeholder engagement programme to test the viability of potential transition pathways with industry and employer partners.
Three potentially viable ‘transition-out’ options were identified for ServiceIQ to leave the ISB during 2026:
- Set up a new industry-owned Private Training Establishment (PTE)
- Lift and shift into an existing PTE
- Lift and shift into an Institute of Technology or Polytechnic (ITP)
These options were tested with engagement session attendees to gauge initial preferences between the options. It was determined following the engagement process that the preferred option was to merge with an existing PTE and merge with an ITP as the second preferred option. Following the August engagement sessions ServiceIQ met with the Peak Bodies (Industry Associations) on 13 October 2025. The Industry Associations requested that ServiceIQ explore lifting and shifting the entire business (rather than component parts) into an existing PTE or into an ITP on an equal footing.
Ideally, ServiceIQ would like to have clear direction regarding its transition plan by mid-2026