A variety of public critiques, reports and government reviews into Initial Teacher Education (ITE) in Australia and globally have called for a rethink on teacher education. Similarly, key researchers such as Hattie (2011), Smith and Lynch (2010) and Ingvarson et al. (2014) have argued for new, innovative approaches to ITE that are able to provide alternative pathways to the training of teachers. From this perspective the current article examines several models and features of ITE in terms of innovation. This examination provides clarification concerning the nature and role of ITE reform, as well as a series of arguments highlighting the need for ITE innovation, in order to illustrate and suggest how initial teacher education might move forward in a way that best supports the aims and goals of the Australian Professional Standards for Teachers.