MRFF Research and innovation strategy consultation
10th May 16
The Advisory Board of the Medical Research Future Fund (MRFF) is seeking guidance from the dental industry on the Australian medical research and innovation strategy and related priorities that will help set the direction for this $20 billion research fund.
Key Issues For The Dental Industry —
As part of the 2014-15 Australian Government Budget, the Australian Government announced the establishment of the $20 billion MRFF as a dedicated vehicle for investment in medical research. It is the single largest boost in health and medical research funding in Australia’s history, the net earnings of which will serve as a permanent and sustainable revenue stream. The MRFF is expected to disburse around $1 billion a year in the future and will provide long term, stable funding for medical research. Research will be strategically funded in order to address national priorities in a more cohesive and coordinated way than under previous approaches. The funding will aim to:
The Australian Medical Research Advisory Board has recently been appointed under the auspices of the Medical Research Future Fund Act (Cth) 2015. This legislation establishes the MRFF to provide grants of financial assistance to support health and medical research and innovation. These grants will aim to translate research findings into clinical practice, with the objective of improving the health and wellbeing of all Australians.
The Australian Medical Research Advisory Board held its first meeting at Parliament House on 4 May 2016. Under the Medical Research Future Fund Act (Cth) 2015, the Advisory Board is tasked with determining the Australian Medical Research and Innovation Strategy and related priorities. The strategy is determined every five years and the priorities every two years and to this end a discussion paper has been released that seeks the advice of the dental industry on the strategy and priorities. The paper is available via the link below:
The MRFF will operate within an interlinked whole-of-government research agenda. Key areas of current work include the work of the Commonwealth Science Council (CSC) and the existing work of the major research funders such as the National Health and Medical Research Council (NHMRC) and the Australian Research Council (ARC). The recently launched National Innovation and Science Agenda (NISA) represents a new and important player in the whole-of-government research agenda.
Through the MRFF there will be a greater focus on effective research translation to improve healthcare delivery and embed evidence into clinical practice.
ADIA is considering a response that will support the Australian Dental Research Foundation (ADRF), Australia's dental research funding body that is a joint initiative of ADIA and the Australian Dental Association.
Currency of Information —
This update was issued on 10 May 2016 and please note that changes in circumstances after the publication of material or information may impact upon its accuracy and also change regulatory compliance obligations.
The statements, regulatory and technical information contained herein are believed to be accurate and are provided for information purposes only. Readers are responsible for assessing its relevance and verifying the accuracy of the content. To the fullest extent permitted by law, ADIA will not be liable for any loss, damage, cost or expense incurred in relation to or arising as a result of relying on the information presented here.
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