Bill & Melinda Gates Foundation is a private foundation founded by Bill and Melinda Gates. It was launched in 2000. Based in Seattle Washington, the foundation aims to, globally, enhance healthcare, reduce extreme poverty, expand educational opportunities and access to information technology. Now the foundation is controlled by its three trustees: Bill Gates, Melinda Gates and Warren Buffett.
In 2003, Bill & Melinda Gates Foundation launched Grand Challenges in Global Health, which came to include multiple funding partners. This initiative focused on 14 major scientific challenges that, if solved, could lead to key advances in preventing, treating, and curing diseases of the developing world. Seeking to engage the world’s most creative minds, Grand Challenges in Global Health awarded 44 grants totaling over $450 million for research projects involving scientists in 33 countries. Funding included an additional supporting project addressing ethical, social, and cultural issues across the initiative.
In 2013, Bill and Melinda Gates Foundation launched the first call to develop the Next Generation of Condom through Grand Challenges Explorations initiative. During the challenge, James Zhijun Lu of Regenex Pharmaceuticals, Ltd (the research center of Zioxx). successfully applied for the challenge of making Condoms <30µm by improving Properties of Natural Latex Emulsion. In 2014, Regenex Pharmaceuticals, Ltd. (the research center of Zioxx) was awarded $100,000 grants by Bill and Melinda Gates Foundation.