Inventor scoops £50,000 prize to develop and market product
Inventor Stephen Britt has scooped a £50,000 prize as part of Barclays' Small Business Support programme.
Having created a pedal propulsion system capable of being installed on any bicycle, Britt submitted his product to Barclays, which has now awarded him the southern region prize money.
'Fast Forward' is a low cost, environmentally friendly kit for cyclists. Swap any bike pedals with Fast Forward pedals, and the system will provide power assistance as you go. They’re a cheaper, lighter alternative to electric bikes that can be fitted in less than 15 minutes.
The company will spend the prize money on further product development, with a plan to launch in time to harness the enthusiasm surrounding the Olympics and the ‘Ride to Work’ scheme.
"Winning the Barclays Take One Small Step competition is a fantastic opportunity. It allows me to take my Fast Forward Cycle Pedals to market and help people make the switch to a more bike oriented lifestyle. I can’t thank Barclays enough for this rare chance to help people live healthier lives in an eco friendly way,” said Britt.