We consider the notion of maintaining a teaching and learning environment in which innovation, change and development are fundamental ingredients of the new dynamic conservatorium within the new economy. These elements need to be encouraged and fostered if conservatoria are to be sustainable into the future. Central Queensland Conservatorium of Music has undergone significant, perhaps even radical, change over a short three year period. The next challenge is to create a dynamic and responsive environment where innovation is readily accepted and indeed institutionalized. Furthermore, change and ongoing development must be embraced from the outset and staff/students able to rnanage this energy and work with it - rather than creating roadblocks and obstacles. The Virtual Conservatorium initiative is an exciting new development in itself - but it needs to be followed in succession by one innovation after another to ensure that a new conservatorium model is able to maintain a leadership role within the industry.