A CYCLE helmet designed by two young Nottingham-based businessmen has won one of the design industry's "Oscars" – for which previous finalists have included the Apple iPhone.

Now James Elderton and Joseph Thomas are due to attend the award ceremony at the Industrial Designers Society of America's design conference in New Orleans, in September.

Their Aura helmet features an in-built rear light and detachable wrist indicators that flash automatically when the cyclist lifts an arm to signal.

It is also designed to give improved protection to the back of the head.

Design company Wonder Vision, which has an office in Beck Street, Nottingham, and London, scooped a silver award in the student design category of the International Design Excellence Awards 2011 competition, run by the society.

Directors Mr Elderton, of West Bridgford, and Mr Thomas, of Henley-on-Thames, Oxfordshire, both keen cyclists, came up with the idea for the helmet while studying product design and technology at Loughborough University.

They struck up a friendship when they were both on a placement year with a company called Innovate Design in Salisbury and later went into business together.

Former West Bridgford Comprehensive pupil Mr Elderton, 23, said: "We are both big road cyclists. We really love cycling so that's where the idea came from.

"The inspiration for it was that there is a huge market out there. You see people cycling around, commuting, but they are wearing what you would traditionally say is a racing helmet.

"There are a lot of fashions and trends around in cycling and we wanted to fill a bit of a niche. The helmet's design is all about visibility and extra safety and reducing the amount of cycling deaths and injuries.

"The design is also meant to be appealing – urban and stylish."

The back of the helmet houses a light with a variety of flashing settings and is higher than the traditional position under the seat to give greater visibility.

The indicator wrist bands use a tilt-switch, which activates LED lights automatically when it turns on its side as the cyclist lifts their arm.

Mr Elderton and Mr Thomas, 24, have already carried out research into the potential to manufacture the product but have yet to decide whether to go ahead.

Mr Elderton said he was delighted with the award, which was announced on Thursday. And although there is no prize money, the award gives a product prestige which can be used in its marketing.

"We were over the moon to win," he said.

"There were over 2,000 entries from 39 countries so it is great to have won an award. We are really excited."

The International Design Excellence Awards have been running for 31 years and are considered the industry's "Oscars."

The helmet is now being displayed in the society's museum in Michigan.