FHRI Fund Funding Principles guiding Programs and Initiatives
Today the Funding Principles for the Future Health Research and Innovation (FHRI) Fund have been released.
These Funding Principles play an important role within the FHRI Fund governance model.
The governance model for the FHRI Fund has several components.
The essential governance requirements are set out in the Act. Other governance provisions are outlined in the accompanying Governance Framework, while the Funding Principles guide the design, implementation and measurement of benefits from Programs and Initiatives. Policies and processes guide the day-to-day operation of FHRI Fund.
The FHRI Fund Funding Principles have been determined by the Advisory Council and tabled by the Minister for Health in Parliament. The nine Funding Principles are presented below.
1. Open and Transparent
Ensure that the application and review processes are open and transparent, widely advertised and accessible to all relevant applicants to be able to identify the highest quality ideas and projects.
2. High-Quality
Implement a competitive and merit-based application and review process, ensuring that the best quality applications are funded, and that funding is only awarded if high-quality proposals are received.
3. Independent Review
Implement independent expert peer review to secure the integrity of the review and assessment process.
4. Partnerships and Collaboration
Give priority to proposals that demonstrate partnerships (whether formal or informal) and working collaboratively with others to maximise impact, including incentivising co-investment from the academic, research, government, private and philanthropic sectors.
5. Consumers and the Community
Ensure that consumers and the community are involved at every stage of Program and Initiative design and implementation, and the funded research and innovation activities.
6. Build Culture
Strengthen the research and innovation culture in WA by investing in researchers and innovators to achieve their career aspirations, who can in turn create an environment, through mentorship and collaboration, which supports continued success.
7. Accelerate and Translate
Achieve impact through accelerating the development of innovative ideas into products or services with commercial and/or implementation potential; and enabling the translation of research into practice and policy.
8. Sustainable Long-Term Change
Amplify the impact of the FHRI Fund funding by considering sustainability of the supported proposals post the grant period. Take a system change approach to addressing persistent social, economic and behavioural issues affecting health outcomes, acknowledging that long-term change requires a collaborative approach beyond an individual researcher or project.
9. Review and Evaluate
Evaluate the return on investment for all funded programs on a regular basis to maximise the benefits of the FHRI Fund and demonstrate these to stakeholders.
The FHRI Fund Funding Principles have been determined by the Advisory Council to guide the design and implementation of Programs and Initiatives, how funding applications are assessed and to ensure there is a focus on achieving and measuring the practical benefits the FHRI Fund is achieving. The 10 Funding Principles are presented below.
1. Open and Transparent
Ensure that the application and review processes are open and transparent, widely advertised and accessible to all relevant applicants to be able to identify the highest quality ideas and projects.
2. High-Quality
Implement a competitive and merit-based application and review process, ensuring that the best quality applications are funded, and that funding is only awarded if high-quality proposals are received.
3. Independent Review
Implement independent expert peer review to secure the integrity of the review and assessment process.
4. Partnerships and Collaboration
Give priority to proposals that demonstrate partnerships (whether formal or informal) and working collaboratively with others to maximise impact, including incentivising co-investment from the academic, research, government, private and philanthropic sectors.
5. Consumers and the Community
Ensure that consumers and the community are involved at every stage of Program and Initiative design and implementation, and the funded research and innovation activities.
6. Build Culture
Strengthen the research and innovation culture in WA by investing in researchers and innovators to achieve their career aspirations, who can in turn create an environment, through mentorship and collaboration, which supports continued success.
7. Accelerate and Translate
Achieve impact through accelerating the development of innovative ideas into products or services with commercial and/or implementation potential; and enabling the translation of research into practice and policy.
8. Sustainable Long Term Change
Amplify the impact of the FHRI Fund funding by considering sustainability of the supported proposals post the grant period. Take a system change approach to addressing persistent social, economic and behavioural issues affecting health outcomes, acknowledging that long-term change requires a collaborative approach beyond an individual researcher or project.
9. Review and Evaluate
Evaluate the return on investment for all funded programs on a regular basis to maximise the benefits of the FHRI Fund and demonstrate these to stakeholders.
10. Equitable Outcomes
Support equitable outcomes by considering the structures of bias, disadvantage and inequity in Australian society stemming from dimensions such as Aboriginal or Torres Strait Islander status, gender identity, career stage, race, ethnicity, language, religion and disability or a combination of all or any of these. Ensure that strategies to promote equity are considered, and incorporated where appropriate, into the design and implementation of funding programs.