It’s exciting to see new faces, as well as returning schools! We look forward to working with everyone and sharing valuable information about investing. Wherever life takes you after graduation, this knowledge will bid you well. 
As young people, you have the most valuable asset on your side—time! Why is investing early so important? The answer is compound interest. $1,000 invested at 8 percent will grow to be $1,080 after one year. After two years, it will grow to $1,164.40 due to earning compound interest (you earn 8 percent on last year’s $80 in interest = $4.40 plus 8 percent on your $1,000 = $80).
That may not seem like a big deal, but consider a longer time period. What will your $1,000 grow to be in 55 years when you retire? The answer: $68,913.86. That’s right, your $1,000 will generate $67,913.86 in interest.
Want to be a millionaire? If you invest $1,117 each year for 55 years and earn 8 percent, you will have more than $1,000,000!
So, as you can see, investing when you are young is the first key to a secure retirement.
The second key is the rate of return you earn. If you invest $1,117 each year for 55 years and earn one percent, you would only have $85,820.19. Which retirement would like to have—one with more than $1 million or one with less than $100,000?
Where can you earn an 8 percent return? In a savings account at a bank? In a Certificate of Deposit? Or in the stock market?
The College of Business at Michigan Technological University wants you to understand the basics of stock investing while you are young. People naturally avoid things they don’t understand. We want you to understand that investing isn’t as complex as it may appear. Only one team will finish in first place in this competition, but all of you can win in the retirement tournament.
This week’s video is from Dean Johnson, dean of the MTU College of Business. He provides an introduction into stocks and investing to help get you started, as well as an explanation of rules and trading restrictions. Good luck, and have fun!
The 2020 Bob Mark Business Model Competition was held January 29. Eighteen students making up 13 teams pitched business models to advance their innovation. Community members and judges from across campus and the community selected the winners and provided the teams with feedback.
The winners of the 2020 Bob Mark Business Model Competition:
- First Prize, $2,000—Kyra Pratley, POWERPENDANTS
- Second Prize, $1,000—Jake Soter, SwimSmart Technologies
- Third Prize, $500—J. Harrison Shields, Shields Technologies
- Honorable Mention, $250—Samerender Hanumantharao & Stephanie Bule, Bio-Synt
- Honorable Mention, $250—Allysa Meinburg, Haley Papineau, Sadat Yang, AAA Prosthetic Ankle
- Audience Favorite, $250—Allysa Meinburg, Haley Papineau, Sadat Yang, AAA Prosthetic Ankle
- MTEC SmartZone Breakout Innovation Award, ($1,000 Reimbursable expenses toward business development)—Ranit Karmakar
This event is a tribute to the late Bob Mark, professor of practice in the College of Business who started the Elevator Pitch Competition at Michigan Tech. The competition recognizes his entrepreneurial spirit and its continuation at Michigan Tech.
The 2020 Bob Mark Business Model Competition was hosted by Husky Innovate, a collaboration between Pavlis Honors College, the Michigan Tech College of Business, and the Office of Innovation and Commercialization. Husky Innovate is Michigan Tech’s resource hub for innovation and entrepreneurship, and offers workshops, competitions, NSF I-Corps training, a speaker series, and co-hosts the Silicon Valley Experience.
The School of Business and Economics at Michigan Technological University announces the Husky Investment Tournament, an exciting and engaging semester-long outreach initiative designed for high school business classrooms. Students in grades nine through twelve will see business come to life through the principles of the stock market–with the opportunity to win prize money and college scholarships!
“The purpose of the Husky Investment Tournament is to offer more students more pathways to discover business opportunities at Michigan Tech,” says Dean Johnson, dean of the School of Business and Economics and founder of the Tournament.
How it works: Teams comprised of 3-4 student members will receive $1,000,000 in virtual US dollars will build a portfolio. At the conclusion of the competition, the team with the top-performing portfolio will be invited to campus to pitch to a panel of current Michigan Tech students and experts. The winning team will also receive $1,000 in prize money and all student-team members who actively participate will be awarded scholarships to attend Michigan Tech.
Most importantly, students will learn about the world of investing and business in a hands-on and dynamic way.
“We envision the Husky Investment Tournament to be embedded into an economics or business or personal finance class. Teachers should plan to discuss personal finance, investing, and the Husky Investment Tournament with students. The School of Business and Economics will provide faculty support and resources,” Johnson says.
Registration closes September 23 and the competition begins October 1, running until December 1. Interested educators or administrators may inquire for more details by emailing business@mtu.edu.
Earlier this month, Michigan Technological University’s School of Business and Economics (SBE) sent two teams of undergraduate students to Grand Rapids, Michigan, to compete in the final stage of the eighth-annual THE Project Competition, an annual collegiate project management competition hosted by the Western Michigan Project Management Institute Chapter.
Roger Woods, SBE faculty member who leads the opportunity each year, says that the experience engages Huskies in the practice of project management, develops their leadership skills, and provides them with a platform to demonstrate their abilities to business and community leaders.
Michigan Tech has competed in all eight of the competitions, placing third in 2018 and first in 2017.
Students faced competition from five other Michigan schools including Cornerstone, Ferris State, Grand Valley, Hillsdale, and Western Michigan.
“THE Project is probably the best college experience I have had outside of an internship for my future career in the project management industry,” says first-time competitor and Michigan Tech senior, Connor Green.
Huskies LEED the Way–a team, which included Hannah Badger (engineering management, Plymouth, MI), Connor Green (engineering management, Sandusky, MI), Amanda Sabol (engineering management, Utica, MI), Megan Twork (engineering management, Ravenna, MI), and Amanda Vermeer (engineering management, Sterling Heights, MI)–led their division from start to finish, also securing a spot in the final three.
Final: Huskies LEED second; Extreme Makeover third.
The Bob Mark Business Model Competition provides a venue for students of all majors to pitch their entrepreneurial ideas before an audience and a panel of judges. Prior to the competition, students receive coaching from business professionals to hone their ideas and improve their pitches.
The 2018 Bob Mark Business Model Competition took place Wednesday, Dec. 5. More than 20 participants making up 15 teams pitched business plans for ideas ranging from hypothermia-preventing life jackets to a web-based stress management program.