### nbr.co.nz Saturday September 25, 2010 – 05:00am
NZ monorail start-up gets $US1million from Google
By NBR staff
Google has recognised Auckland monorail start-up Shweeb, making it one of five companies worldwide to be awarded $US1 million in its $US10 million 10^100 competition.
In return for its $US1 million injection, Google has taken a 25% stake in Shweeb, with the proviso that any profits made by the internet company will go to a charitable trust for the betterment of public transport.
Shweeb, founded in 2006, is run by Remuera managing director Peter Cossey and Rotorua inventor Geoff Barnett. Its human-powered monorail concept sees a Futurama-style capsule combined with reclining cycle technology.
Project 10^100 by Google is a call for ideas to change the world by helping as many people as possible.
Thousands of people from more than 170 countries submitted over 150,000 ideas. From that group, Google narrowed it to the final 16 ideas for public vote.
Post by Elizabeth Kerr