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@dominiclincoln
I'm up for meeting and putting a few ideas to paper. There is definitely a market for it, as there are people on this forum that have had their bikes nicked. As for powering it and where to put it in the frame, these are all things to be addressed at the design stage- such as finding out whether it could run on standby for a week for example, then can be activated to full power and send a tracking signal when needs must. Powering it? batteries? rechargeable ones you can just plug into a socket with a connecting cable that runs to an attachment on the frame. Or make it removable.
As for thieves working it out, it'd be a while before it reached market saturation, so there'd be a bit of time to fix this one, and it could be designed to be fitted on various places on the bike. Remember, it would be at its most effective in the following half hour or so after the bike was stolen- a tea-leaf ain't gonna be stoppiung and shining a torch into every gap on the bike when they couldbe making a getaway.