Elena Larriba, a 29-year-old graduate of London's Royal College of Arts, has unveiled the Vycle, which relies on the person's pedal power to send the user up, using a pully system and a set of tracks.
She said: "There are currently two main methods for vertical transportation that have prevailed for the last 100 years, the stairs and the lift. Stairs are bulky and unattractive, especially in high rise buildings where people don't often use them, and lifts require a lot of energy in order to move one person a couple of metres up.
"This carves out an area of opportunity that sits between the two. Although the working prototype is as fast as the stairs, the vision for Vycle is to incorporate electrical assistance that could make the system faster and enjoyable, accommodating different ages and abilities. It's a personal lift where you decide how much effort you want to put in and how much you want to be assisted."
And whilst Larriba admits the Vycle "needs development", she hopes it could be used as a "safer way to navigate through scaffoldings cranes or transmission towers" in the future.
She added to the Mail Online: "Vycle is an alternative to long ladders often used in these temporary works that can offer the user a more sustainable and safer way to navigate through scaffoldings, cranes or transmission towers ...
"[It is an] early concept and needs development. Potential routes to take it forward would be through an incubator or through an R&D of a company that may be interested in developing it. Hopefully in the future Vycle can find a sweet spot in the market where it could make an impact."