A variation of Sidhekin's solution:

#!/usr/bin/perl
my $x="My name is VC";
my $y="myname";

my $r;
($r=$y)=~ s/(\S)(?!$)/$1 */g;
$r= qr/($r)/i;

if ($x =~ $r) {
  printf "Matched from %d to %d: '%s'\n", $-[0], $+[0], $1;
}
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