Encouraging entrepreneurialism at a young age is very important to our CEO David Farquhar, so when he was offered the opportunity to be part of a project doing just that he was very happy to be involved.
The Micro-Tyco initiative was undertaken by Balfron High School, in Stirlingshire, Scotland, which took groups of 12 and 13-year olds and gave them £1 seed capital and asked them to make it grow.
The groups had to conceive of money-making ideas that didn’t require much initial investment to generate profits for reinvestment and further profit generation. At the end of the initiative all profits were to be donated to Wild Hearts – a charity which provides micro-loans to people and communities in third world countries. The total amount raised this year by the pupils was £2,200.
David, a serial entrepreneur himself, having been involved with xx start up businesses over his career, was asked to chair the judging panel to choose the best Micro-Tyco project and award the winners with a certificate and recognition of their achievements.
Commenting on the programme David said: “This was an interesting project encouraging young people to really think in a business context about investment, profit generation, overheads and managing teams. It was a great fun afternoon and I, along with the rest of the judges, were so impressed with the level of initiative, commercialism and, of course, entrepreneurial spirit being shown!
“With the project supporting a charitable venture it also offered the pupils a chance to consider the importance of social responsibility needed from businesses – a hugely important area now and in the future and an interesting insight for these young people. The amount they raised was excellent and they should all be rightly proud of themselves.”
IGS is committed to working with our local communities and supporting young people to demonstrate innovative and entrepreneurial thinking.