The move, which could prove to be a huge boost for cycle retailers in the area, is being led by the Greater Manchester Integrated Authority (GMITA) and would help cut pollution and congestion, while improving the health in the area.
The city has proposed to create five flagship cycle centres, up cycle parking facilities, offer cycle hire in the area and also provide workshop and training facilities.
Chair of GMITA, councillor Keith Whitmore, said: "Our plans would make Greater Manchester a national leader in sustainable travel and, if successful, could lead to 13 million more journeys being made on the region's buses, trains and trams each year.
"Our bid seeks to challenge people's perceptions of walking, cycling and public transport and show that they really are attractive and viable options - and to provide facilities like the cycle centres to address some of the barriers to making the switch.
"It's an incredibly exciting package that provides the right blend of initiatives and incentives for creating a big change in they way we choose to travel. We want Greater Manchester to be the greenest place in the country and I sincerely hope our bid is successful."
For more on the bid, head to Bikeforall.net.