RGU students turn £1 into £13,782Tuesday, 15 May, 2012
40 groups of second year Management, Accounting and Finance students from Robert Gordon University (RGU) have turned £1 seed capital into an astounding £13,782 in just four weeks through the WildHearts Micro-Tyco challenge.
Micro-Tyco is a fun, fast and furious global business challenge designed to release entrepreneurial talent and inspire the spirit of enterprise in its purest form. It challenges participating teams to turn an initial £1 investment into as much money as possible in just one month, using their creativity, imagination and business skills. Previous Micro-Tyco challenges have seen multi-national companies such as Deloitte and Ernst and Young take on schools and SMEs from across the country. In February, Robert Gordon University became the first higher education institute to make Micro-Tyco a compulsory part of its business degrees.
The students took part in the challenge over a 4 week period period, taking their £1 seed capital and generating money through ventures such as commissioning hand-made Chinese decorations and importing them for sale in Scotland; organising a sight-seeing tour of the Highlands for Erasmus Students; selling themed decorations and cards for Mother's day; and organising charity events, including an Acoustic night at the RGU student Union.
Throughout the competition participants were mentored via on-line videos by some of Scotland's best business minds including Sir Tom Hunter and Bob Keiller, chief executive officer of Wood Group PSN, plus top entrepreneurs from New York and Australia. Micro-Tyco's strong focus on inspiring future business leaders also attracted champions from across Scotland's business sector including the Entrepreneurial Exchange and the SCDI.
RGU's winning team raised £1700, by hosting a race night at Mannofield Squash Club. The university's two top teams' achievements were recognised at the prestigious Entrepreneurial Exchange conference at Gleneagles, where they were congratulated in person by distinguished entrepreneurs including Sir Tom Farmer, the founder of Kwik-Fit, Lord Kirkham CVO, founder of DFS furniture and Bob Keiller.
All money generated by RGU through Micro-Tyco is being invested by WildHearts in Micro-Finance in 21 countries around the globe, taking Micro-Tyco participants on a journey from dynamic wealth creators to global ethical investors. WildHearts believe that by associating business success with helping others, Micro-Tyco will inspire the leaders our world deserves.
Micro-Tyco was introduced into RGU's Aberdeen Business School curriculum by Dr John Park, Charles P Skene Entrepreneurship Programme Leader, as an authentic entrepreneurial experience and runs in conjunction with RGU's Business Enterprise Development module, led by module coordinator, Graham Grant, lecturer in entrepreneurship. The success of Micro-Tyco has contributed to WildHearts being taught as a 'Live Case Study' at Babson College Massachusetts, the World's top school for entrepreneurship.
Communications Officer | Aberdeen Business School
Robert Gordon University
Tel: 01224 262144