£50K challenge: Can you reduce bike thefts?
Posted on in Business News , Cycles News
£50,000 up for grabs for most innovative bike theft deterrent
Nesta, the UK's innovation foundation, is running the ‘Hands Off My Bike!' challenge prize - which calls on people from all over the UK to come up with breakthrough innovations to make it more difficult to steal bikes and have the potential to increase numbers of people cycling in the UK.
There is a £50,000 prize for the winning entry, and it is open to any individual or organisation. The winning innovation will be the one that requires the longest time to steal the bike. The innovation will be also judged on the impact on the environment, cost and potential for commercialisation and/or implementation at scale.
Last year over 500,000 bikes were stolen in the UK (one each minute), with a recovery rate of under 5 per cent. It has been estimated that of the 17 per cent of cyclists that experience bicycle theft, 66 per cent cycle less often and 24 per cent stop altogether.
Marco Zappalorto, Challenge Prize Manager, "Nesta is appealing to bike retailers across the country to help us spread the word about this challenge. From our research, we know that the best and most novel ideas can often come from those who work with bikes or who cycle regularly."
If you have an idea which you would like to submit, please visit the Nesta website for details. Alternatively if you would be able to help spread the word to your customers, and would like a supply of flyers or further information, then please contact Suzi Browne at suzi.browne@nesta.org.uk
The closing date for entries is the 18th January 2013