The Bill & Melinda Gates Foundation on Wednesday said it has set aside $100 million for innovative ideas that can further the fight against the global health threaths Tuberculosis, HIV, infectious diseases and drug resistance.

Through the foundation's new Grand Challenges Explorations program, 60 projects will receive $100,000 each in the first round of a five-year program.

Foundation officials say it's one of the most open-ended requests for proposals they've ever issued, but it fits well with the organization's quest to be innovative.

"Break through ideas can come from anywhere and we hope this new process will encourage a broad range of scientists from the world to bring their ideas to the table," Gates Foundation Global Health Programme President Tachi Yamada said in a statement.

"The projects showing success will have the opportunity to receive more than one million dollar additional grant", the foundation said.

The Bill & Melinda Gates Foundation is the world's largest philanthropy and paid out 1,322 grants totaling more than $2 billion in 2007.

Last update: 03-06-2008 21:02