Cyclefreo

We have been looking at many different bike share systems from all over the world and one thing they all have in common is the high start up costs to achieve the scale required for maximum adoption and in turn to make the system effective.

Social Bike System (SoBi) caught my eye because it uses a different approach that lowers the initial capital required to get the system off the ground. The video below sums it up nicely and they are in a Pepsi good idea challenge so please vote for them to continue the development of their product. VOTE HERE

The Social Bicycle System (SoBi) is a public bike share system that uses GPS, mobile communications, and a secure lock that can attach to almost any bicycle and lock to any regular bike rack.

This system will be more affordable and scalable than existing bike share systems and can be deployed in a wider range of settings – small cities, universities, and even corporate campuses. SoBi will allow a user to find and unlock bikes using a mobile phone and provide a viable public transportation alternative.

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Below is a short video by Muhammad Yunus on the theory behind the social business model (also known as social enterprise) and some examples of how it can be utilised to solve social issues.

Cyclefreo is adopting a social business model where in the profits that are generated by the business are invested back into the business and into the social objectives of the business. Clearly defining these social objectives will be part of coming posts as Cyclefreo develops.

Muhammad Yunus releases his new book this month which details how to create a social business.

We will be talking about Cyclefreo’s business structure in detail over the coming months as it will be an important part of the overall business planning and development and could ultimately come down to the overall viability of using a social business structure.

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Cyclefreo has entered the TACSI – BOLD IDEAS, BETTER LIVES CHALLENGE which aims to:

With the Bold Ideas, Better Lives Challenge we want to give you the chance to turn your big idea into big impact. So we’re putting our money (and our networks) where our mouth is and offering you the opportunity to make your idea a reality.

We’re offering a range of capacity building partnerships and we’ve got up to $1 million to invest in your ideas – we’re committed to supporting up to 10 projects that show the best and brightest ideas in social innovation across Australia.

We will upload our full entry to this blog shortly for comment but in the future we will be posting a range of videos to YouTube in relation to the development of this project.

Our YouTube Channel is http://www.youtube.com/user/cyclefreo

Please let us know what you think of the multi-media presentation as we plan on entering a number of challenges with this brave plan and the better our entry the better the chance of success.

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