Welcome to the Deloitte Micro-Tyco University ChallengeEntry for the 2014 Deloitte Micro-Tyco University Challenge is now closed. Details of next year's challenge will be announced in Autumn 2014.
In 2011 Deloitte became the first company to take part in Micro-Tyco turning their £1 into an incredible £19,008. This triggered two amazing things; WildHearts were selected to join the first group of Deloitte Social Innovation Pioneers and Micro-Tyco spread throughout the UK firm, resulting in Deloitte winning for a second year by turning £1 into £52,435. That’s when things got really exciting. Noticing the incredible effect taking part in Micro-Tyco had on their team - revealing hidden talents, liberating entrepreneurial behaviours and resourcefulness, inspiring the knowledge that business could be a force for good - Deloitte decided to expand their partnership with WildHearts. In October 2013 Deloitte launched Micro-Tyco into top UK Universities* as a vehicle for identifying the leaders of the future and recruiting the best talent into their business.
* These Universities have been selected by Deloitte for the first year pilot of the challenge. If you are a student from a university not on the Deloitte list (or are from a school or company) you can still take part in the global Micro-Tyco challenge but will not be eligible for the Deloitte prizes listed below. Find out more here.
Micro-Tyco: Become an Entrepreneur to Fund an Entrepreneur
Micro-Tyco's vision is nothing less than the ignition of the spirit of enterprise across our whole culture. It is an enterprise challenge that brings our whole society together, reconnects us to one another, to what really matters, and compels us to collectively raise the bar in what we believe is possible for ourselves and our culture. In two years Micro-Tyco has brought together over 10,000 participants from schools to corporates, challenging teams to grow £1 seed capital into as much money as possible in just four weeks. This initial investment of 1,900 £1 loans has generated more than £500,000 in return. From the team of ten year olds who transformed their £1 investment into more than £14,000, to the graduates who turned theirs into £75,500, Micro-Tycos’ unique combination of inspiration, world class business mentorship, positive peer pressure and ethics produces incredible results. This is why Deloitte want to take Micro-Tyco to university campuses to help find passionate entrepreneurial thinkers who will bring something different to the firm.
The Deloitte Micro-Tyco University Challenge launched in October 2013 in Universities across the UK. The challenge is designed to identify entrepreneurial success and invigorate students to challenge the dependency culture and stimulate self-reliance and enterprise. It is fast, fun and furious, forcing contestants to break out of their limited self-perceptions and comfort zones. Micro-Tyco inspires the spirit of enterprise in its purest form and rewards participants with the knowledge that in business, if they can succeed at Micro-Tyco, they can succeed at anything.
The top ten winning teams will get the opportunity to gain two weeks work experience at Deloitte and the overall winning team will be flown out to a WildHearts microfinance project that they will have helped to fund. As well as gaining an experience that completely differentiates your CV, other prizes include invitations to Deloitte Insight Days, opportunities to be fast-tracked to interview and places at Micro-Tyco Master Class events with global business leaders.
How does it work? The Deloitte Micro-Tyco University Challenge will run every February and each team will be provided with a Deloitte mentor to support them throughout the challenge. Teams apply to The Deloitte Micro-Tyco University Challenge via the online registration form. Registrations must be submitted by January 24th 2014. Three teams of five students will be selected from each of Deloitte's 15 partner universities (view the list here).
Once the teams have been selected they will be allocated a Deloitte business mentor who will support and guide the students through the challenge. The teams will be sent their ‘seed capital’; a micro-loan of £1. When February arrives the clock starts and they have one month to turn it into as much money as possible. There is only one rule: transactions must be legal.
During the challenge participants are encouraged to use their inner resources - creativity, imagination, experience, network - to grow their pound. Micro-Tyco inspires an intense entrepreneurial environment that unleashes participants latent talents and reveals skills they never knew they had, whilst at the same time fostering essential entrepreneurial thinking and team work. Participants receive world class business training from the Micro-Tyco Mentors (including Sir Tom Hunter) via video and will be able to interact with the other companies and schools taking part in the global Micro-Tyco Challenge via the exclusive Micro-Tyco social network.
The competition keeps you sharp; the deadline keeps the pressure on. Its apparent simplicity is deceptive. The low value of the £1 loan entices you to get involved but then takes you on a journey where the challenge grows with the money. It is a seed that reveals your inner wealth and helps you discover talents you never knew you had. As the money grows, so will you.
The money created from Micro-Tyco will then be invested by WildHearts in micro-loans to help the world’s poorest people work their own way out of poverty with dignity and self-respect. As a result participants will go from becoming dynamic wealth creators to global ethical investors. Micro-Tyco’s gift to you will be the knowledge that once you release your talents the whole world benefits.
Find out more, why Deloitte are getting involved and how to apply here.