There's good reason why this bicycle is called The Contortionist. One of the frontrunners for a James Dyson Award, this innovative folding bike by Dominic Hargraves collapses to a package that's the height of one of its wheels. And, it's not nearly as dorky looking as most folding bikes.
Three companies are already interested in cranking out thousands of copies of this compact cycle, and it might not even be exorbitantly expensive, perhaps less than $700.
Maybe a bike like this would encourage people to bike to work, giving them the ability to easily bum a ride home, fitting their bike easily in any trunk.