New research and innovation fund to create jobs for Western Australians

Tuesday 21 Feb 2017
  • WA Labor to introduce a Future Health Research and Innovation (HRI) Fund
  • Creating new jobs in research and making WA a world leader in medical innovation
  • WA Labor to develop a cancer research strategy to improve cancer research
  • New innovation hub at Royal Perth Hospital

A McGowan Labor Government will provide long term, secure funding to drive medical research and innovation and make WA an innovation powerhouse.

The Future Health Research and Innovation (HRI) Fund will ensure that WA becomes a world leader in medical research, creating new jobs for Western Australians for years to come.

The HRI Fund will provide a secure source of funding to develop research capability, high quality infrastructure and world-first clinical studies for patients to improve the future health of all Western Australians.

It will break the cycle of peaks and troughs that currently exists for medical research funding and will create a secure, long term funding stream to support research and innovation.

The current Future Fund will be re-purposed to create an investment fund. The interest generated from the Fund will be made available by application for high quality research projects, growing our health and scientific communities as global leaders in medical research and innovation.

It will have a focus on research relating to cancers, child health and other diseases in which WA has an international standing.

An Actuarial Board of accomplished individuals will be established to oversee the HRI Fund.

A McGowan Labor Government will also develop a cancer research plan that improves cancer research and treatment for the next decade.

The plan includes consulting scholars, researchers, consumers, carers and medical research stakeholders to agree to a long term strategic approach to cancer research WA.

We will also develop an innovation hub at Royal Perth Hospital and provide collaborative accommodation and services to start up and established medical innovation research companies, linked to other State and regional medical technology centres.

Comments from WA Labor Leader Mark McGowan:

"Under a McGowan Labor Government, WA medical researchers and innovators will be supported like never before. This is the most significant funding restructure of medical research in WA.

"This is a major investment in WA's long term future, creating new jobs to turn WA into an innovation powerhouse.

"WA Labor's Future Health Research and Innovation Fund will help create an exciting clinical environment with research opportunities, which will help attract the very best medical workforce to WA.

"It will provide new job opportunities for our youngest and brightest minds, allowing them to stay in WA.

"By having a strong focus on medical research and innovation, we can find new ways of keeping people healthy and curing serious disease into the future.

"There are huge opportunities to harness the power of the genomic, biological and technological revolutions, to improve our health system. Research into new and modern medicines and treatments can drive significant change in the way patients are treated."

 

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