Core activities of the Coventry and Warwickshire Hospital Project were funded by The Wellcome Trust, an independent charity funding research to improve human and animal health. Established in 1936 and with an endowment of around £11 billion, it is the UK's largest non-governmental source of funds for biomedical research. As a privately endowed charity, the Trust is independent from governments, from industry, and from donors.

In his will, Sir Henry Wellcome specifically mentioned the study of the history of medicine as a topic to be fostered. The Wellcome Trust has since maintained this tradition through its support for research in the history of medicine. The Coventry and Warwickshire Hospital Project is funded via several streams, specifically a Project Grant, a People Award, and through the Centre for the History of Medicine’s Strategic Award-funded ‘Practices and Cultures of Health’ programme.