STRINGHANDBIKE SIGNED

Project "STRINGHANDBIKE" data sheet

The following table provides information about the project.

 Partnership

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Map

 Project objective

Stringbike Ltd. is presenting a truly innovative, patented wheelchair attachment, which will revolutionise the user experience, and the life quality of millions disabled people. Our solution combines mobility with therapeutic qualities, and fun! The concept is based on 4 pillars: Innovative Technology, Social Sensitivity, a Business Opportunity, and a TEAM to deliver. On the basis of our strong international patent portfolio, we developed a string driven accessory attached to manual wheelchairs. The product, Stringhandbike, offers significantly improved therapeutic and recreational opportunity for disabled people. In Europe ~1,5 million people use manual wheelchairs. The worldwide potential for us is €50M/year. There are numerous solutions, but none can compete with Stringhandbike’s maneuverability, ease of use, comfort, adjustability and therapeutic opportunities, as validated with 150 wheelchair users. The market opportunity of Stringhandbike is proven by receiving clear preference over other solutions. Users are willing to pay about one month’s income for Stringhandbike, thus the planned €1700 retail price is very competitive. Our commercialization plan is based on a direct, demonstrative selling approach, requiring a direct sales force through local disabled communities of target countries. Our team has the key skillset: leadership, disabled community, finance, distribution, technology, manufacturing, and a diverse ownership structure, including management. We have strong financial commitment from our owners, securing the necessary co-financing for our Phase-2 proposal. Since the Seal of Excellence Certificate in 2017, we sold our first test units in Hungary, UK, Denmark and Australia, verified the corporate sponsorship model, tested with Budapest Public Bikesharing System. We launched the Austrian market survey in close cooperation with ÖZIV, the leading disabled organization and we have found our main distribution partner, Maierhofer Gmbh. in Klagenfurt.