The three engineering students turned the bike itself into a lock, in a bid to foil theft.
Each year around the world millions of bicycles are stolen, often leaving their owners without transportation, or a way to earn a living.
Andres Roi, Cristobal Cabello and Juan Jose Monsalve - students from an engineering university in Chile - came up with a unique solution to the problem.
After one of their bikes was stolen they developed the Yerka Project, a bike-locking system they believe is foolproof.
The bike they designed is the lock. It eliminates the chain or bar usually used to lock one's bicycle to a rack or post, and often found cut through or sawed off on the ground, with the bike nowhere to be seen.
The students plan to launch their invention in Europe and the US, where - like the world over - bike theft is a huge problem.
TRT World's Jane Chambers has more from Santiago.