Bangalore: Billionaire philanthropist and Microsoft founder Bill Gates has set his sights and his vast wealth on a new way to improve the world - offering up to $1 million to anyone who can invent a "better" condom.

"We are looking for a 'Next Generation Condom' that significantly preserves or enhances pleasure, in order to improve uptake and regular use," the Bill & Melinda Gates Foundation said on its "Grand Challenges in Global Health" website.

Gates is offering $100,000 in start-up funds and up to $1 million in additional money if the project is deemed promising.

"The primary drawback from the male perspective is that condoms decrease pleasure as compared to no condom, creating a trade-off that many men find unacceptable, particularly given that the decisions about use must be made just prior to intercourse," the statement added.

The foundation estimates that 15 billion condoms are manufactured each year throughout the world, with 750 million users.

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