In April of 2013, Colorado College hosted a momentous entrepreneurial event for its students. The Big Idea was a pitch event where Colorado College students presented their project idea before a panel of five judges in order to compete for $50,000 in funding towards the project. The panel reviewed the project ideas based on financial stability, effect on quality of life, feasibility and presentation, and the potential impact of the project on the world. In this video clip, entrepreneurs Seth Newby and Jay Merrill present their Big Idea, QuickLock.
"Each year, thousands of bikes are stolen or damaged because people simply forget to lock their bikes up. Often, itâ€™s because people forget to carry their lock around or are simply annoyed by the hassle of carrying such an inconvenient object wherever they go. Even if they do remember to carry locks, their bikes are still susceptible to thiefâ€™s who can simply cut through the wires. We envision a bike locking system that eliminates the need for carrying bulky, often inconvenient bike locks. This radical take on conventional bike security involves a system where riders simply roll their bikes into the QuickLock rack where a locking mechanism secures the bike. This convenient invention allows riders not to worry about carrying their own bike locks, or the prospect of their bike getting stolen â€“ the QuickLock bike rack will provide the utmost security against bike theft. The QuickLock bike rack is a practical product for many businesses and institutions. Our focus group will be college campuses (where biking is incredibly popular) and various small businesses whose employees often bike to work. Also, the QuickLock bike rack would be the perfect amenity for businesses and shops along popular bike trails, where the biker could easily drop off his/her bike knowing that it would be safely kept until he/she returns. The QuickLock bike rack is a secure alternative to the inconvenience and unreliability of bike locks. We think the QuickLock bike rack is an idea with huge potential. Generating not only a sizable profit but helping out the community and environment by emphasizing biking as an important mode of transportation."--Business proposal