The Kids Research Institute Australia has welcomed the State Government’s additional investment into the Future Health Research and Innovation Fund (FHRI), which supports key medical research, innovation and commercialisation in Western Australia.
Medical Research Minister Stephen Dawson announced on Friday that an additional $84 million would be available to support health, medical research and innovation over the next four years.
The boost, which will include a $16.7 million top-up this financial year, has been made possible thanks to a new investment strategy and improved returns on the Fund’s capital.
The FHRI Fund – a sovereign wealth fund of more than $1.6 billion – is the cornerstone of health research in WA. Over its first two years, $63.6 million has been awarded to 364 recipients, a number of them from The Kids Research Institute Australia.
The Kids Director, Professor Jonathan Carapetis – who is also Chair of the Western Australian Chapter of the Association of Australian Medical Research Institutes (AAMRI WA) – said the funding boost was excellent news for the State’s medical research sector.
“As WA’s largest medical research organisation, we know that expanding the Fund adds to our State’s reputation as great place to do research and greatly boosts our ability to attract and retain the best research minds,” Professor Carapetis said.
“A vibrant research sector that is responsive to the needs of our local community is a key aspect in delivering an effective and efficient healthcare system and services.”
Professor Carapetis said the FHRI Fund had already proven to be an important source of support for researchers at The Kids Research Institute Australia.
“We pride ourselves at The Kids on the facilities and support we provide to our researchers to ensure they can focus on delivering world-class paediatric research that benefits Western Australians in countless ways,” he said.
“We are deeply grateful for the Government’s commitment to championing medical research and the contribution it makes to the State.”
For more information on the FHRI Fund, see here.