Winners of 2015 startup competition in Cape finalizing anti-theft bicycle product

It was one year ago this month when Amir Atighehchi and Mikey Ahdoot won the inaugural 1ST50K competition with their fledgling bike-security product, Nutlock.

The entrepreneurs now are waiting for the largest shipment of their product to date and are ready to promote the product all along the West Coast.

The company has come a long way since Codefi founder James Stapleton made the announcement last August. Atighehchi and Ahdoot founded Nutlock after having bike parts stolen from their apartment while studying at the University of Southern California. They entered the Cape Girardeau competition after finding some success in a Kickstarter campaign that raised more than $60,000.

They had set out to create a better bike lock -- one that was simple to install but would deter would-be bike-wheel thieves with a vice grip or other standard tools used for theft. It can be tightened or loosened by a key that works exclusively with the product. The only way to get a duplicate is for customers to request a new one online using a code they will have received in the original packaging.

Since winning the competition, the entrepreneurs have set out to improve their design and manufacture the locks in larger quantities.

Nutlock, a "smartlock for your bike wheels," is shown Wednesday at Codefi in Cape Girardeau.Fred Lynch

"Before 1ST50K, we had multiple production issues," Atighehchi said at a 1 Million Cups presentation last week.

There were rusting issues. The threading was not even. The color was wrong.

"We also did not have a true retail packaging," Atighehchi said, "and we didn't have our [Consumer Product and Safety Commission] testing completed ... which is not necessary to sell a bike product, but bike shops look at you totally different once you have CPSC compliance."

They also lacked a market strategy and quality control.

"We had a good amount of obstacles to overcome," Atighehchi said.

The $50,000 winnings from the 1ST50k competition and the resources made available to them in the region have proved indispensable, Atighehchi and Ahdoot said.

"We came up with a sampling package, working with John [Dodd] with Cyclewerx right here in Cape Girardeau," Atighehchi said.

Dodd helped the entrepreneurs understand what bicycle shop owners look for in a product and "helped us learn to be good salesmen in the process," Atighehchi said.

Atighehchi and Ahdoot also received assistance from Patty Schaefer of Mayson Capitol Partners LLC to become organized financially.

"She essentially became honorary CFO for the company," Ahdoot said.

The young men spent much of last year in Cape Girardeau, working with members of Codefi and focusing on strategy.

Through the website Alibaba, they identified a manufacturer in China to create the product.

Then they hired a full-time quality control manager who will oversee production "even when production is not going on, making sure our manufacturer is keeping the standards we expect out of them," Atighehchi said.

Atighehchi and Ahdoot visited the manufacturer themselves to ensure the product was being built the way they wanted it.

"We were able to tweak quality control and get really involved over there," Atighehchi said.

A shipment of 5,000 Nutlocks are on their way to California, where Atighehchi and Ahdoot will continue their business. They have built relationships with West Coast bike shops and have identified those that will receive sample products before the men go out in full force to get their products into the market.

Atighehchi and Ahdoot considered maintaining operations in Cape Girardeau, but logistically it made sense to return to the West Coast, where the product will thrive, they said.

"This is a very location-specific problem. On the West Coast, it's a big issue. Bike theft is rampant," Atighehchi said.

"People do lock their bikes properly, but you need multiple locks to secure everything," Ahdoot said.

Atighehchi and Ahdoot expressed appreciation for the members of Codefi and the city of Cape Girardeau for their role in the potential success of their business, and they look forward to the day their final product comes off the boat from China.

"The product is ready. Bike shops are excited," Atighehchi said. "And soon we'll have units in hand, and we're ready to make this thing fly."

bbrown@semissourian.com

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