Psychosis—including experiences such as schizophrenia, bipolar disorder, and related conditions—affects around 4% of Australians during their lifetime. Schizophrenia alone is one of the top three contributors to significant health impacts among young men aged 15–24.

The Psychosis Australia Trust was established through a unique partnership between researchers and people with lived experience, building on the work of the Australian Psychosis Research Network (APRN) and the Australasian Schizophrenia Conference (ASC). It is auspiced by the Mental Illness Fellowship of Australia (MIFA), which also provides secretariat support to the Trustees.