Having his bike stolen was, in retrospect, one of the most fortuitous things to happen to the Cyclepods creator James Steward.

Not only was the theft the inspiration for his product design degree final-year project, but the concept has since developed into a profitable enterprise.

“After having my bike stolen I did some research and found that cycle storage hadn’t been redesigned in 25 years, so I thought, ‘I can definitely do something here’,” he says.

Steward spent a year designing a modern, innovative method of storing bikes securely and was duly rewarded with a first-class degree from Nottingham Trent University for his efforts in 2003. His space-saving design, which allows eight bikes to be stored within a space two metres in diameter and is made from 12,500 recycled aluminium cans, also attracted interest from Nottingham County Council, but Steward chose to go to work with a design company in London rather than turn his concept into a commercial product.

After 18 months, having found a business partner, Natalie Connell, he had a change of heart. By early 2005 they had secured a £17,500 Government-guaranteed small-firms loan to develop the product and by the autumn had sold the first units – unsurprisingly to Nottingham County Council.

With orders from Pepsi, Reebok, Ikea, M&S and the NHS on the books, Cyclepods was created in 2006 with new investors providing the capital to develop the range and meet the demand. Two years on, the carbon-neutral company has nine staff, has developed a mini-version for use in junior schools as well as a wall-mounted unit, and has distributors in Europe, Australia and the US.

Cyclepods’ success has led to Steward becoming an ambassador for Make Your Mark, a project that helps young people to unlock their entrepreneurial talent.

www.cyclepods.co.uk