Randy Wu, 16, from Henry M. Gunn High School in Palo Alto, CA, is one of this year’s competitors in the i.Invest Competition. LyfeCycle, which started as an idea in a model UN class, has now turned into Randy’s life mission: to help the less fortunate in developing countries.
Tell us a little about your business.
LyfeCycle is a nonprofit organization that is on a mission to mobilize people around the world using bicycles. This nonprofit donates specially designed and assembled bicycles to students, entrepreneurs and healthcare workers in Bangladesh. The bikes are designed to meet the unique needs of each village in Bangladesh, something that differentiates it from its competitors. LyfeCycle recruited volunteers in Bangladesh to support their mission by contacting high schools and universities in the area. These volunteers run the division overseas and also support efforts to get the local government involved in the mission. Currently, bikes are sold through the local Bangladeshi government who support the efforts to improve the lives of citizens in rural areas.
What inspired the creation of LyfeCycle?
What challenges will LyfeCycle face?
Because LyfeCycle is a nonprofit that relies mainly on donations, grants and fundraisers, raising enough capital by spreading the word about LyfeCycle’s mission will always be a priority. Right now, LyfeCycle is focused on providing bikes to citizens of Bangladesh, so they will need to expand resources in order to move into other territories.
How will LyfeCycle impact the world?
LyfeCycle enhances the lives of people in developing countries, specifically Bangladesh, by providing them with bicycles. When bicycles are given to underprivileged people in Bangladesh, they immediately have access to better educational, economic and healthcare opportunities. LyfeCycle is making the world a better place, one bicycle at a time!
What are the next steps for LyfeCycle?
LyfeCycle is currently partnered with the fourth largest law firm in the world, Kirkland Ellis, LLP. In the near future, LyfeCycle hopes to secure at least $3,000 in funding to expand their operations. With these funds, LyfeCycle will be able to offer more incentive for local organizations in Bangladesh to help their cause, and also secure more bikes that can be donated.
To stay abreast of LyfeCycle’s progress in the i.Invest competition, visit www.i-investcompetition.com and register for the i.Invest newsletter. Also, to provide support as a mentor or investor, please email firstname.lastname@example.org.
Good luck, Randy!