Moore, who co-founded the chip giant in 1968, this week unveiled the Gordon E. and Betty I. Moore Foundation, which will single out projects and research initiatives that are not typically funded by conventional sources such as government agencies.
The new foundation, which will be based in San Francisco, plans to open its doors early in 2001. It will be led by Lewis Coleman, who will leave his post as chairman of Banc of America Securities to become president of the organization.
For its first year, the foundation will live largely in start-up mode, focusing on growing its staff, setting grant requests and procedures, and making itself known to the public.
The foundation will bring a venture investment philosophy to its grant-making, Coleman said in a statement, meaning that it will search out opportunities and projects that are a bit riskier but offer the possibility of higher returns.
Moore, a veteran of the technology industry, has often donated money to support scientific research and other causes including advancement in technology and education.