New Fund To Fast-Track Medical Breakthroughs Now Open

The Andrews Labor Government’s new research fund to fast-track the latest breakthroughs in health and medical research into everyday care and treatment for patients is now open.

Minister for Health Jill Hennessy today called for applications for the inaugural Victorian Medical Research Acceleration Fund, with two levels of funding available of up to $100,000 and $500,000.

The fund will support the translation of early stage health and medical research into better health outcomes for patients, while also creating jobs and further investment in Victoria’s world-class medical research sector.

Health services, industry, medical research institutes and education institutes with a focus on early research can now apply. The fund will also leverage funding from philanthropic, industry and international sources.

The fund is part of the Labor Government’s $20 million plan to ensure Victoria stays a world leader in ground-breaking health and medical research that has the power to change lives.

The plan, Healthier Lives, Stronger Economy: Victoria’s Health and Medical Research Strategy 2016-2020, outlines our key priorities over four years to support new and evolving fields of world class medical research. This is the first time in 10 years that a health and medical research strategy has been developed for Victoria.

It details six priority areas which focus on how Victoria will develop the workforce of the future, integrate research, education and health, develop advanced convergence science, stimulate more industry engagement, attract more clinical trials and optimise big data and informatics.

In its first year, the strategy is already delivering better health outcomes for Victorians by quickly translating breakthroughs in health and medical research into clinical practice. It will also create jobs and drive economic growth across the state by investing in areas where Victoria can lead the world.

A 16-member Science, Medical Research and Technology Panel has been established to drive leadership and excellence in Victorian health and medical research, attracting more investment and jobs to Victoria.

Applications for Victorian Medical Research Acceleration Fund are now open and close on 14 April. For more information visit https://www2.health.vic.gov.au/about/clinical-trials-and-research/health-and-medical-research

Quotes attributable to Minister for Health Jill Hennessy

“Victoria is home to some of the world’s best and brightest medical minds, and we’re leading the way in breakthrough discoveries that improve quality of care for patients”

“The Victorian Medical Research Acceleration Fund will support early-stage research, revolutionise future patient care and save lives, while also strengthening our economy.”

Quote attributable to Parliamentary Secretary for Medical Research Frank McGuire

“These significant investments will build on Victoria’s reputation as a world leader in medical research, attracting global investment and creating new jobs.”