Mr Hipkins said while the Stage Challenge brand is licensed and cannot be replicated, he is inviting potential providers to put forward expressions of interest to run national and regional opportunities for students to showcase their skills.
The ministry has already allocated $267,000 for this purpose for each of the next two years.
"Because time is short, I have asked officials to free up more funding for the activity this year to increase the chance of it continuing, while it works with potential providers on a more sustainable long-term replacement."
Mr Rudolph and Ms Vint have already emailed Mr Hipkins, telling him about AIM. The pair said it would be "amazing to receive something" from the Government to help them get their show on school stages in both regions.
Mr Rudolph said they would be grateful to have the support of the Ministry of Education because they see their event as an educational platform, and added it would give them extra credibility.
The pair are currently seeking sponsors to help raise the funds to hold their event.
Ms Vint said this type of event gives students the chance to express their views, and learn valuable skills like team work and leadership.
"We wouldn't be the people we are without it. It's taught us so many things," she said.
AIM also plans to offer scholarships to students to attend workshops outside of the competition.
There will be a Northland event, three regional events in Auckland, followed by a championship night.
The pair are also reaching out to other groups who have popped up to fill the void left by Stage Challenge. They have offered a place in their championship night to the winners of competitions in Hamilton and Tauranga.