AAMRI welcomes news of WA Future Health Research and Innovation Fund

The medical research institute sector was greeted with the good news today that the Western Australian Future Fund Amendment (Future Health Research and Innovation Fund) Bill has now been legislated. This will provide an ongoing funding source for WA health and medical research, with an initial commitment of $37 million over the next three years.

Professor Jonathan Carapetis AM, President of the Association of Australian Medical Research Institutes (AAMRI) said he applauded WA’s forward thinking in passing the legislation, and the Fund meant better security for our scientists.

“This is very welcome news for the medical research sector,” said Professor Carapetis.

“We know that putting funds in medical research is one of the best investments the state can make. It creates more jobs, diversifies our economy, means we can retain and attract the best scientists, and keep our community healthier and stronger.”

The legislation, the first of its kind in WA, allows the interest from the $1.4 billion WA Future Fund to be invested in health and medical research, commercialisation and innovation.

The first allocation, expected to be $6 million, will be directed towards COVID-19 research.

“We’re proud of the medical research institute’s sector’s response to COVID-19 and our ability to help. It’s also been an important reminder of the importance of providing secure and stable support for the sector so we’re here when you need us,” said Professor Carapetis.

“This new Fund does exactly that, provides a long-term source of funding that can be directed where we need it most.”