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Dear Fin
You aren't the first to think of using bicycles to power technology! There are quite a few projects that have tried installing bicycles to pump water with the idea that the children will do the hard work giving their mums a break! I've attached here a project write up from one in Guatemala. Unfortunately many of the projects haven't really considered the practicalities to ensure that this solution is sustainable. Once the bicycles break they are often tossed aside and the women - who are usually the ones to collect the water - are left hauling the water up by hand. They might have been better off with a basic but reliable bucket and winch.
So look at your project from the point of view of the users and the long term sustainability of the technology. Who will use it? What will happen when it breaks? Can they get spare parts cheaply and immediately? Will they be motivated to mend it or will it be easier to ditch it?
I would suggest you could look at other applications where the users are more clearly motivated to keep the technology in good working order, such as charging mobile phones or radios.
Good luck with the project!
Harriette (RedR WASH Engineer)