Bill Gates Throws Down Condom Challenge

Foundation offers $1 million for new design

By Nate Wooley, InvestorPlace Writer

Top 11 Stocks for 2011Billionaire Bill Gates is asking for grant applications for the development of the next generation condom.

Gates — most famous as the chair of Microsoft (NASDAQ:MSFT) — wants to see a better condom developed so that usage around the world will increase, reports ABC News.

The Bill & Melinda Gates Foundation is offering a $100,000 grant for a new condom design that improves the usage rate and user experience. The foundation anticipates up to 80 recipents of the grants and could award up to one million dollars for advanced designs.

The request for grant proposals asks, “Is it possible to develop a product without this stigma, or better, one that is felt to enhance pleasure? If so, would such a product lead to substantial benefits for global health, both in terms of reducing the incidence of unplanned pregnancies and in prevention of infection with HIV or other STIs?”

Only products new to the market will be considered for the grants. The deadline for submissions is May 7 and winners will be awarded in November.

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