Tuesday, April 15, 2014
Clients on the Move: Autobike
Between collaborating with other Michigan companies and competing in business competitions, OU INC client AutoBike has been busy.
AutoBike will be advancing to phase two of the University of Chicago’s Edward R. Kaplan ’71 New Venture Challenge. AutoBike will be one of 55 teams chosen to advance, and will participate in an entrepreneurial class, which will determine if they will participate in the final phase of the competition.
If the team advances to the final phase, which will take place in May, they will have the opportunity to pitch their business to a panel of renowned entrepreneurs and business experts. Teams that advance to the last round of the competition are eligible to receive cash, legal services and professional counseling as prizes.
Along with this competition, AutoBike has collaborated with Grand Rapids-based TerraTyke, a recumbent bike manufacturer. AutoBike’s automatic gear-shifting technology was added to the recumbent bike technology to create a new market for riders. The “smart trike” is expected to increase sales for both companies, who already have customers nationwide.