Startup Model – Smart Bicycle Anti-Theft Solution

THE MODEL: A device which is attached to the rear wheel of a bicycle and is armed through a smartphone app. Theft attempts lead to an alarm and a stolen bike can be tracked in real time using GPS.

STARTUP: B.Guard (Bulgarian startup)

WHAT I LIKE

Core Idea – A lock combined with app to thwart bicycle theft attempts.

Benefits to Users – In case of an attempt, the device alerts the user through the app. Also the stolen bicycle can be tracked in real time using GPS. The device cannot be removed from the wheel and to remove the whole wheel, a special coded key will need to be used.

Targeting a Big Problem – Cycles are a major mode of transportation especially in the EU. Bicycle theft is big and genuine concern.

CONCERNS

Competition – The startup will need to price the product right to beat the existing products in the market. The smart features will give it a premium, which will need to priced right.