Micro-Tyco: supporting entrepreneurs of the future

Micro-Tyco is an entrepreneurial challenge set up by WildHearts, one of the Deloitte Social Innovation Pioneers alumni. The challenge is a fantastic tool to develop entrepreneurial skills, and this year we took the concept one step further, using it to identify the talent of the future through marketing the concept to UK universities and our partner schools. Student teams were matched with a Deloitte mentor and given £1 and the month of February to turn that pound into as much money as possible.

Seventy five Deloitte volunteer coaches supported 345 school and university students by helping to generate ideas, develop business plans and refine income generation tactics. The £21,989 generated by the 69 participating teams, in addition to £12,500 in cash donated by Deloitte, has been used to fund 477 micro-loans for entrepreneurs in Ghana. Each loan benefits approximately seven people (employees and dependents), meaning we’ll help over 3,338 people every year out of poverty through ‘Compassionate Entrepreneurship’.

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