"Male condoms are cheap, easy to manufacture, easy to distribute, and available globally, including in resource poor settings, through numerous well developed distribution channels," according to the foundation's Grand Challenges website.
But the problem is that it's a struggle for some men, and women, to want to use them. That is where the root of the challenge comes from.
Gates said that the condom has been in existence for over 400 years, but hasn't been improved in the last 50 years, aside from introducing a new latex material and implementing quality control measures.
He's looking for proposals that "enhance pleasure," maybe alter the shape to "improve user experience" and increase "condom desirability," according to the challenge posted online.
The marketing and distribution channels are already in place. Gates is looking to move fast on this too. Human clinical trials are not necessary.
Are you up to the challenge?
To read the original release by the Bill and Melinda Gates Foundation, go to: http://ow.ly/juDrp.