Bike Friday takes Kickstarter campaign into high gear

If you’re considering a Kickstarter campaign, you may want to have a chat with Hanna Scholz, President of Bike Friday. The 24-year-old, Eugene-based company, recently launched a campaign to develop the pakiT, the world’s lightest folding bike. Bike Friday surpassed its goal of $50,000 in seven hours, and with three weeks left to go, Schulz is now eying $500,000.

“The support we’ve received has been overwhelming,” said Scholz, who recently succeeded her father, Bike Friday Co-Founder Alan Scholz. “For the past several months, my father and I have been pouring our love and creativity into getting ready for this, and I think we’ve successfully steered Bike Friday toward a bright, new future.”

Scholz calls the pakiT “a game changer.” It’s the first folding backpack bike to weigh less than 20 pounds, it’s belt driven and has gears up to 11 speeds. Furthermore, it’s available in multiple sizes, it can be folded down in under 25 seconds and it’s more compact than all other major brands.

“Our goal was to push through the limitations of common folding bikes,” said Scholz, a graduate of the RAIN Eugene accelerator. “With the pakiT, you really can take it with you anywhere. It fits in a backpack, under your desk or in a suitcase for airline travel.”

Bike Friday Team 2

The Bike Friday team is ready to deliver the pakiT!

The pakiT Kickstarter campaign will continue to accept pledges through September 21. The goal is to fund the various costs associated with designing and developing the product, including  building tooling and delivery infrastructure, training production team members, developing the backpack and accessories, and the first bulk-material purchase. Supporters will be recognized with unique Kickstarter Rewards ranging from a bluetooth bike speaker to a custom-built pakiT bike, depending on the level of contribution.

The immediate success of the pakiT Kickstarter campaign is hardly a surprise. Two years ago, Bike Friday raised $135,000 – more than three times their goal — to develop a cargo bike called the Haul-a-Day.
“The Haul-a-Day was such an incredible experience, and with support, we can to do it again. At Bike Friday, we have all the people and knowledge to offer the pakiT to the world,” said Scholz.