NFMRI releases strategy impact report (2013-2019)
Impact review finds that 62% of supported projects attracted next-step partners and leveraged funding of over $45m
In 2013, the Board of the National Foundation for Medical Research and Innovation (NFMRI) made the decision to focus on a specific strategy of assisting biomedical research to cross the ‘valley of death’ and attract next-step partners. Introducing a new untested strategy was a bold decision that would enable the Foundation to test approaches that had the potential to benefit the Australian medical research sector, but more importantly the community.
After supporting a significant number of projects across Australia addressing various diseases and conditions, we have moved beyond a growing number of case studies to being able to analyse the effectiveness of the strategy.
In 2021, NFMRI released its Strategic Impact Report covering grants awarded during 2013-2019. Analysing results from grants awarded following the introduction of this strategy, the report found that:
- 62% of projects supported by NFMRI attained next-step partners
- Five projects are in active clinical trials and one project is already delivering benefits to cancer patients
- Financial return on investment of more than 10:1 for next-step funding – representing a leverage of over $45 million
In late 2024, NFMRI conducted an updated review covering projects commencing in 2013 and concluding before 2022 and found that the statistics had improved even further:
Measuring for success
Measurement is becoming increasingly important to philanthropists, foundation and other funders of programmes focused on delivering social returns.
Established metrics, however, don’t always align with the needs of funders. At the same time, universal metrics can also result in superfluous reporting, wasting both time and resources.
What isn’t measured and rewarded can often be as important as what is. The balance lies in ensuring that measurement is useful and not harmful.
NFMRI’s guide titled ‘Measuring for success’ is intended to facilitate discussions around the use of metrics, and to assist funders make informed decisions about what is measured, why and how.
From evidence to practice: Exploring translation pathways for clinical medical science and public health research
NFMRI recently announced the launch of an unprecedented report exploring translational pathways for both clinical medical science and public health research.
The report was developed following cross-sector literature reviews and interviews with multidisciplinary stakeholders. The intention behind the report is to start a conversation on translational pathways the present significant opportunities to benefit the community.
Created to identify opportunities to increase community benefits arising from clinical and public health research, the report identifies a number of challenges that currently exist with regards to translation and highlights a number of opportunities to increase efficiencies.
Impact giving: advancing medical innovations
There are many ways philanthropists can support health and medical research. Our focus is on supporting biomedical research that advance innovation and leads to the formation of collaborations. Our impact giving guide has been prepared to assist donors and potential donors make informed decisions when considering their giving options and strategies.
About our Strategy
The National Foundation for Medical Research and Innovation provides grants to advance early biomedical innovations and enable collaborations.
