Ever heard of the Gyro Bike before? If not, don’t worry the technology has been around since three years only so you are not really living under a rock.

This technology was first recognized in the late 2006 when 4 students from Daramouth College won awards for their work on the technology which keeps the Bikes stay upright even at very low speeds.

How does it work? Gyrowheel is fitted with a metal disk inside which spins independently of the wheel creating enough force (gyroscopic precession) to stabilize the bike long enough to help the kid gain control before falling off the bike.

The technology is targeted at kids who are learning to ride a bike. Gyro Bike claims to help a child learn in just 30 minutes and more importantly without scraped knees.

See the technology in action here..

Here is a closer look at how the technology really works..

Gryowheel will be available on Gyro websites starting Dec-1-2009. Company also seems to be working with the bike manafacturers to ansure wide availability. Join Gyro’s e-mail list to receive alerts when the technology goes on sale.