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Italian startup that makes it harder to steal a bike to feature in London Parliament presentation

by Augusto Grandi

Turin was the ideal city to develop an anti-theft system for bicycles: a city which has many thefts, and very few recoveries of stolen bikes, and even fewer convictions.

Therefore, a group of young Italians connected to the Polytechnic of Turin founded a start up that created Sherlock, an anti-theft system composed of a GPS enabled microchip that has position tracking. A movement system and a sim card that communicates every movement of the bike through an app on your phone.

And today, at the House of Commons in London, Sherlock will be the only Italian start up selected by SETsquared (considered one of the best University incubator in the world) to present the project to the House of Commons. Together with only five other international startups.

Sherlock is a dream come true for six young graduates from Turin's Polytechnic University and the University of Turin. And, at the Polytechnic, they were able to count on the support of the incubator I3P. But in Turin, the virtuous circle is multi-faceted. As such, the creators of Sherlock were able to count on the support of the Fondazione CRT before obtaining a loan of €130,000 from the EU.

The problem, not only in Turin, is the lack of investors willing to take risks on start ups. Even if the Club degli Investitori, the largest Italian regional network of business angels, has its headquarters right in Turin.

It remains, however, easier to obtain financing on foreign markets, and for this reason, Sherlock's Turin headquarters will be complemented by one in London. The six founders are already thinking of how to expand the use of their alarm system, studying the application to motorcycles, luggage, and dogs.