A Kiwi inventor has won the award for best brainwave at an international gadget fair in the United Kingdom.
Grant Ryan's battery-powered YikeBike can be manoeuvred through busy city streets at up to 25km/h and, with a few twists and folds, be stowed in a shoulder bag or under a bus seat.
Judges at the Gadget Show Live in Birmingham were wowed by the innovative design and minimal carbon footprint.
About 1100 organisations around the world have expressed an interest in distributing the product.
The design borrows from the historic Penny Farthing, with its larger front wheel. However, the Yike's handlebars, which are behind the seat, move into new design territory.
Christchurch-based Ryan says this feature makes the Yike safer, because riders can see more while sitting in an upright position.
On his blog, Ryan says his bike is ideal for journeys under 9km and perfect for urban commuters.
But he acknowledges it's not the perfect solution to people's transport woes: "It doesn't fly and it can't go in water."