We're taking the Micro-Tyco Challenge
Flight Centre is excited to be taking part in The Micro-Tyco Challenge in collaboration with WildHearts. Each year, forty people from across our company will attempt to grow a £1 micro-loan into as much money as possible in just four weeks.
Companies and universities from across the globe compete in this challenge and at the end of the month the team with the most money wins. The current adult record-holders successfully turned £1 into £75,000, while the winning team of 10 year olds transformed their pound into £14,000.
There are two rules: the activities must be legal and participants aren’t allowed to gamble. The money created from Micro-Tyco is invested by WildHearts in microfinance projects across 39 developing countries, providing the world’s poorest people with the ‘seed capital’ they need to work their way out of poverty with dignity.
Why are we taking part?
Micro-Tyco’s vision is to ignite the spirit of enterprise in its purest form. To grow your pound you’ll need creativity, entrepreneurial thinking, team work, imagination and business acumen. You will be forced out of your comfort zone and sharpening your skills, while at the same time becoming a global economic investor. Essentially, by becoming an entrepreneur, you’ll be funding entrepreneurs in the developing world - giving them a chance to build a better life for themselves. All those taking part will also have access to external online mentors and you’ll be giving the opportunity to attend a Micro-Tyco Master Class.
This year, our Flight Centre team turned £1 into £1854 within just 30 days. These funds will now be invested by WildHearts and will provide 37 microloans annually in perpetuity – as WildHearts will always get the money back, recycle it and lend it out again. Each microloan will empower a female entrepreneur to start up her own business and generate her income. With this income, she will be able to feed her children and send them to school – with each entrepreneur/ mother supporting an average family size of six, the £1854 will help change the lives of 259 people this year and the next year and the next year, with the majority of these being young people who will now have the opportunity to go to school for the very first time – not bad for 30 days’ work.