Nike now has competition in the auto-lacing race, as Canadian startup Powerlace Technology is working on its own version of the self-tying shoes seen in "Back to the Future II."

The hands-free Powerlace P-One shoes are able to lace up automatically based on the wearer's body weight, according to Engadget. Once the shoes are on, the wearer presses their heel on the concealed disc linked to the laces by wires, and wearers can use a lever attached to the back of the shoe to release pressure and loosen the lace.

All of these capabilities are provided thanks to a system that doesn't require electricity to work.

Pierre Thibeau, co-owner of the Powerlace Technology, said the company, which has a five-person staff, has spent the last seven years working on the auto-lacing shoes, The Guardian reported.

"We're bringing a new standard to the shoe industry. It's like a TV remote - you don't know you need one until you own one," Thibeau said.

The Powerlace P-One looks like your average pair of running shoes, sporting the "POWERLACE" brand on the side. The outside of the shoe is made of traditional nylon, while the inside is made of steel so it can handle being tightened repeatedly.

Nike, meanwhile, has gained attention for its auto-lacing version of the Nike Mag worn by Marty McFly, auctioning 1,500 pairs of the shoes for the Michael J. Fox Foundation for Parkinson's Research in 2011, The Guardian reported. The company is expected to make the shoes available sometime in 2015.

Powerlace has started a Kickstarter campaign for the P-Ones with the goal of raising $650,000 CAD ($573,000) so it can start selling the shoes for $175CAD ($155) for early backers and $195CAD ($173) for other customers.

Those who've always wanted their own pair of self-tying shoes can show their support now, and a successful campaign will allow Powerlace to start shipping in May 2015.