BBC NEWS | Technology | Warning sounded on web's future
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Sir Tim told BBC News that there needed to be new systems that would give websites a label for trustworthiness once they had been proved reliable sources.
"On the web the thinking of cults can spread very rapidly and suddenly a cult which was 12 people who had some deep personal issues suddenly find a formula which is very believable," he said. "A sort of conspiracy theory of sorts and which you can imagine spreading to thousands of people and being deeply damaging."
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The Foundation will also look at concerns that the web has become less democratic, and its use influenced too much by large corporations and vested interests.
"I think that question is very important and may be settled in the next few years," said Sir Tim.
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"One of the things I always remain concerned about is that that medium remains neutral," he said.
"It's not just where I go to decide where to buy my shoes which is the commercial incentive - it's where I go to decide who I'm going to trust to vote," he said.
"It's where I go maybe to decide what sort of religion I'm going to belong to or not belong to; it's where I go to decide what is actual scientific truth - what I'm actually going to go along with and what is bunkum"
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