The three young entrepreneurs from Chile claim to have a solution for a problem that makes every cyclist angry, i.e. “A Stolen Bike.” They have invented the world’s first unstealable bike called Yerka.
One of its creators said he had his bike stolen twice, which prompted him and other Chilean engineering students to find a solution for this exasperating problem. So they created a structure that can be reassembled and dismantled as a lock- all in just 10 seconds.
The world’s first unstealable bike called Yerka is made of steel frame and the bottom tube of the frame can be split into two parts and wrapped around a pole like a lock. According to the Chilean entrepreneurs, the only way to steal the bike would be to cut it with a saw, which will make it unusable.
How did the Chilean Entrepreneurs arrange funds for the world’s first unstealable bike called Yerka?
The three former engineering students Andrés Roi Eggers, 23 years old, Christopher Cabello, 22 years old, and Juan Jose Monsalve, 24 years old designed a successful prototype of the bike and then they left their studies to dedicate themselves into the project. After that they did manage to get $ 100,000 investment fund from the state enterprise fund. But the Chilean engineering students resorted to the crowdfunding website called Indiegogo.
Christopher Cabello, the start-up’s CEO said:
“We chose crowdfunding because it’s the easiest way to make the product go worldwide. It’s an international web page that is well known, and customers can pay securely with a credit card. It was the safest way to handle the money.”
According to a report by the CNN, the startup has sold the first 100 bikes for $400 and then it increased the price to $500. It is expected that the company will increase the price to $600 in the coming future. The creators of the world’s first unstealable bike called Yerka are now working on a smartphone app that will let users open their bike using a phone.