With its new design, the one third scale drone version of the vehicle is impressively stable and is even able to carry a glass of water without spilling. The scaled down version of the vehicle, which acts as a proof of concept for the full-sized Hoverbike, packs a 3DR Pixhawk flight controller and is capable of following a pre-determined flight path, following the pilot, and can even perform automatic take-off and landing maneuvers.

I'm still trying to imagine how big the one-third scale one is. 

The drone is 1,155 mm (45.5 in) in length, constructed from aircraft grade aluminum, carbon composite and polyurethane, and capable of carrying a recommended payload of 1.5 kg (3.3 lb). The quadcopter itself weighs in at 2.2 kg (4.85 lbs), and can travel at speeds of up to 45 mph (72 km/h). Its flight time is determined by the weight of its payload.

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http://www.hover-bike.com/MA/

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While the tangible reward of your very own Hoverbike quadcopter might be enough to make you shell out and support the crowdfunding campaign, the final goal of the project is a little grander. After years of development, the team at Malloy Aeronautics arrived at the current quad rotor design and is now working towards the construction of a final engineering prototype for submission to aviation certification authorities. The team plans to use the funds provided by Kickstarter backers to make this a reality and will continue work until the eventual manned Hoverbike is available for sale.

Once the full size vehicle is operational, the team envisages that it will be used for more than just recreation, highlighting uses including cattle mustering, cargo insertion (up to 120 kg/265 lb) and perhaps most notably, search and rescue operations. The fact that the vehicle can be folded down to a third of its length makes it easy to transport, and its precision controls should make it ideal for dealing with difficult terrain such as that associated with ski and mountain rescues.

Cool. Tiny. Like a remote controlled model.