- WA Future Health Research and Innovation Fund to support health and medical research and innovation
- New ongoing funding source for WA researchers and innovators
Western Australia is poised to be a leader in the future of health and medicine after the Western Australian Future Fund Amendment (Future Health Research and Innovation Fund) Bill passed State Parliament today.
The milestone legislation will give Western Australian health and medical researchers and innovators a secure and ongoing source of funding that will include an initial commitment of an extra $37 million over the next three years.
The legislation repurposes the $1.4 billion WA Future Fund - allowing interest earned on it to be directed to local health and medical research, innovation and commercialisation.
Under the fund's ramp-up program the first year's allocation, expected to be up to $6 million, will be dedicated to COVID-19 research, including the McGowan Government's nation-leading DETECT program.
The DETECT program tests selected cohorts of asymptomatic people in order to learn more about COVID-19. It is currently examining education and FIFO groups. Other cohorts being investigated for potential inclusion include health care, aged care, police, retail, hospitality and meat workers.
Going beyond COVID-19, the increased certainty provided by the Future Health Research and Innovation Fund is expected to help create health sector jobs, diversify the economy, improve patient care, and help Western Australia retain its brightest health researchers, innovators and clinicians, as well as attract global projects and partnerships.
Comments attributed to Health Minister Roger Cook:
"The passing of this legislation is a win for our health and medical research and innovation sector, and all Western Australians.
"Through health and medical research, innovation and commercialisation, we will find new and better ways to treat and prevent disease and create healthier communities.
"Amid the COVID-19 emergency, it is to our health and medical researchers that we turn for hope. This fund is an investment in them."
Minister's office - 6552 6500