Initial seed funding for the establishment of NICM (June 2007) included $4 million from the Australian Government and $600,000 from the NSW Government. The Institute is hosted by the Western Sydney University at its Westmead and Campbelltown campus and is currently funded by the University, industry partners, philanthropy, and research grants and contracts.

NICM is particularly grateful for the generous philanthropic and sponsor support that it receives for its operations from Blackmores (opens in a new window), the Jacka Foundation of Natural Therapies (opens in a new window), Soho Flordis International (opens in a new window), and Catalent (opens in a new window).