The McGowan Government has today announced an innovative program aimed to provide an avenue for individuals or organisations to co-fund health and medical research and innovation programs that will contribute to the health and wellbeing of Western Australians.
The Co-Funding Partnerships Program (Co-FPP), an initiative of the McGowan Government’s Future Health Research and Innovation (FHRI) Fund, provides financial assistance to support health and medical research and innovation projects.
The Co-FPP is continuously open so that new partnerships can be established at any time.
Potential co-funding partners can submit a proposal which requests FHRI Fund contributions between $500,000 and $1,000,000 per annum where the FHRI Fund contribution will be at least matched by the funding partner.
The program provides the opportunity for collaboration so that State Government funding can be combined with non-government funding, where there is a shared vision and goal, to increase financial investment to build the WA research and innovation sector.
A key aim of the program is to build and foster a culture that supports co-operation and interconnectedness between parties that have a drive to increase the capacity and capability of WA health and medical researchers and innovators, resulting in improvements in community health and wellbeing and sustainability of the health system.
Funding programs generated from a co-funding partnership could result in investment in a range of opportunities for researchers and innovators, including fellowships, research projects, innovation activities or infrastructure.
Funding partners wishing to submit a proposal must be non-government, a charitable organisation or from the private sector. The funding must be genuinely new funding and there must be no direct financial benefit to the partner.
Successful applicants will be given a unique opportunity to make an investment that has increased impact due to matched funding, to obtain reputational benefits from being associated with the FHRI Fund and to make a difference in an area that will benefit the WA community.
More information is available online: Future Health Research and Innovation Fund
As stated by Medical Research and Innovation and ICT Minister Stephen Dawson:
“We are looking to form strategic funding partnerships to help drive positive health outcomes for the Western Australian community.
“The program has been designed to provide a mechanism for funding partners to co-fund FHRI Fund research and innovation activities that are working toward common goals.
“The Co-Funding Partnership Program will increase the funding available for health and medical research and innovation of benefit to WA by enabling collaboration between partners with a shared vision.”