Future Health Research and Innovation Fund
The Future Health Research and Innovation (FHRI) Fund provides a secure source of funding to drive health and medical research, innovation and commercialisation and through these activities, improve the health and prosperity of all Western Australians. It also provides an opportunity to diversify the economy, create jobs, improve the sustainability of the health system and position WA as a leader in research and innovation.
The FHRI Fund Scheme is backed by the State’s sovereign wealth fund. The capital of the fund will be preserved in perpetuity and only the annual investment income will be accessed. The capital balance of the FHRI Fund will continue to build through annual credits of one per cent of the State’s royalty income.
Key components of the FHRI Fund are:
- The Legislation
- The Governance Model
- The Advisory Council
- The Strategy
- The Priorities
- The Programs and Initiatives