Personally I don't think it will telescope in with out pivot points.
At first glance I thought the same thing. But once I was able to open the first two images side by side, it seems like it should work if all three tubes can be made to collapse simultaneously. The finish on the ID and OD better be pretty good to do that, because if the tolerances between the ID and OD are made large to let them slide against each other, there'll be so much slop the frame will lose rigidity.
I'd be more concerned with the direction of the front hinge in the chain stays. It will tend to open under load, so it better have a strong locking mechanism.
When I was going to school, I held summer and part time jobs in a state highway materials testing lab, at a nondestructive testing company, as a welder in a truck body shop, and stocking shelves at K-Mart. Guess which ones made it onto the resume I sent out at graduation time?
I also took all the shop classes that were available in junior and high school, as well as a night time welding class at a local vocational college. By the time I landed my first engineering job with GE, I could read mechanical drawings (including weld symbols) and electrical schematics, run a lathe and mill, weld with GMAW, GTAW, and SMAW, and write a decent technical paper. In later years, the vast majority of new engineers we hired had NO hands on experience because by the time they hit junior and high school, all the shop classes had been fazed out (too expensive) and all the engineering classes taught only theory. The hazing that resulted on the shop floor made for many amusing moments, but the screw ups in the design department were no laughing matter.
I'm sure you've seen the same in your career, and know what you're doing for this young man is as valuable as anything he's been taught so far, and probably more. Looks like you're doing the welding (it's beautiful BTW), but I hope he gets a chance to try his hand with the torch as well as the cranks before he's done with his project.
Please keep us posted on progress. I'm curious to see how it turns out!