Entrepreneurs: Rob Grisdale and Jack Payne
Business: ScratchBikes
Location: Newcastle
ScratchBikes provides universities with an easy, green self-service bike hire system, as well as a platform for unique cross-campus advertising. Students and staff receive all of the benefits of cycling around university, but without any of the hassle.
Rob Grisdale (left) and Jack Payne (centre) of ScratchBikes with Deputy PM Nick Clegg.
Users register online and pay a one-off fee for 24/7 access to all bikes. Following this, they simply find a ScratchBike and text the bike number to the ScratchBike system, which then automatically replies with the lock code.
You can follow ScatchBikes on Twitter @ScratchBikes
You can watch Rob's winning elevator pitch video again by using the video player in the top right hand corner of this page.