Atlantic has invested over US$385 million in key higher education and health research institutions in Australia. Many of these institutions also have partnered with Atlantic’s grantees in Viet Nam to support advances in health and education in that country and beyond.
Biomedical research was underdeveloped in Australia in 1998. Today, the country is a world leader in tropical disease and other health research. These ongoing clinical and translational programmes – which translate discoveries into practical applications – are leading to vibrant and cutting-edge research, new products and lifesaving drugs across a range of medical specialties.
Through Founding Chairman grants, Atlantic has helped to develop and expand 25 state-of-the-art facilities for biomedical research in Queensland, New South Wales, Victoria and Tasmania. Atlantic grants to these institutions have totalled US$313 million. As a result of unprecedented partnerships with government, universities and other philanthropists, these university and medical research institutes will have a built value of approximately $1.2 billion when completed. In addition to Atlantic-funded capital projects, Mr. Feeney also helped to establish the first Giving While Living networks in Tasmania and New South Wales. These seek to engage high net-worth individuals and families to increase their giving during their lifetimes.
In keeping with plans to distribute Atlantic’s entire endowment, the foundation made its final grants in Australia and closed its office in Sydney in 2012. Current grants, including ongoing monitoring of opportunities to leverage grantee work and impact, will continue to be managed from our New York office.