Tag: competition

Take the 2011 iOMe Challenge!

Calling all students!

Lecturer in economics, Emanuel Oliveira, is looking for students this fall to enter the iOMe Challenge. The challenge, started in 2009 discusses how local organizations might engage the so-called Y or Millennial generation to think about their own future, 40 years from now.

The iOMe challenge they designed consists of two components; an essay and a video.

Essay Contest (due October 31, 2011): Write an essay of no more than 10,000 words that answers why do people today feel it is much harder to engage in financial savings than earlier generations when, on average, the earlier generations were much poorer than today? What would you propose as a solution to change and increase savings rates?

Video Contest (due November 21, 2011): Produce a short video (60 seconds or less in length) that compellingly illustrates some of the findings, either the reasons for the decline in savings or solution(s). The video should be crafted as a visual representation of the key elements of the Essay. You might think about the essay as the screenplay and the video as the movie.

Prizes

Winning team: $10,000 + $2000 (faculty advisor) + presentation in D.C. to members of Congress.
Honorable Mention(s): $2,000 + $500 (faculty advisor)

Last year students Coleman Segal and Adam Eidelsafy were finalists in the competition and created the video below to illustrate the truth about the personal savings rate.

[youtube]http://www.youtube.com/watch?v=BKVplvyUOtM[/youtube]

Are you interested?

Contact Emanuel Oliveira if you are interested as an individual or as a team at emolivei@mtu.edu.


What’s the (Business) Plan?

Photos courtesy of Kayleigh’s Photography. Story originally posted in Tech Today. Written by Dennis Walikainen, senior editor, university marketing and communications.

Students participated in the second annual Business Plan Competition Tuesday night, and great ideas were flowing in Fisher 139.

Sponsored by the Institute for Entrepreneurship and Innovation and the School of Business and Economics, the competition featured future businessmen and women promoting their ideas in front of a panel of judges, who had previously reviewed their written plans.

The five-minute pitches covered a broad range of business ideas, and the winning plan was Books With Purpose by Jodhbir Singh, master’s student in EE, and Aman Bamra, bachelor’s student in CS.

“Books With Purpose would be India’s first nonprofit online bookstore,” Singh explained. “Thirty-five percent of India’s population is illiterate, and we would help address this problem by donating one book to under-supported schools for every five we sell.”

Singh and Bamra would approach India’s middle and upper classes to support their mission and their business, especially targeting rural areas, where illiteracy is more prevalent.

They took home $1,500 in cash and $2,700 worth of local consulting services: logo, accounting and legal services for their winnings. Singh planned on returning to India after graduation to pursue the business.

Two Bows, a company founded by Jessica Tompkins, a junior majoring in management, took second place in the competition and was familiar to the crowd. She won the Elevator Pitch Competition last fall with her business, which creates hunting apparel for women that could also be worn elsewhere.

Targeting “outdoorsy females, ages 12 to 50, in the northern states,” Tompkins has already started producing demos of her clothing to further pitch her idea, including the blouse she was wearing.

“We would eventually like to expand our online e-commerce sales and even donate proceeds to families of breast cancer patients and the Dream Hunt Program for terminally ill children,” she said. Second place garnered her $500, which she said she would reinvest in the company.

Third place and $250 went to Collin Stoner and his company, Selene, which will manufacture electric motor drivers. He has already been working with a company called Medical Minds to promote his device, which could be used to move the beds in CAT scan machines, for example.

“I’ve spent 400 engineering hours on making the prototype,” Stoner said. “And each one would have its own, unique computer chip, making duplication by competitors difficult.”

Other businesses pitched to the judges were retirement planning for lower income and middle-class people who might have fallen on hard times; cloud computing with improved information gathering; and a social network site for environmentally conscious people and organizations.

Bob Mark, professor of practice in the School of Business and Economics, who emceed the event, doled out the cash to the students and announced that there are plans for a major increase in funding next year, in cooperation with Central Michigan University. Mark sees the beginning of a mutually beneficial relationship with Central, with expanded entrepreneurial opportunities and other academic relationships.


2010 Elevator Pitch Competition–Thurs, Nov 18

Students in the School of Business and Economics will do just that at the 2010 Michigan Tech Elevator Pitch Competition this Thursday night, November 18, at 6:00 p.m. in Fisher 135. Thirteen teams will come together, in a battle of creativity, drive, and persuasive facts. Only one team will walk away with $1,000.00 in cash.

In the competition, contestants have a limited time (like on an elevator ride) to sell a concept to someone who doesn’t have previous knowledge about their business. A three-minute time limit is placed on the competitors, who will also be competing for second ($500), third ($250), and audience-favorite ($200) prizes. You can join students, faculty, staff, and community members for this year’s event. You won’t be disappointed!

Last Year’s Winners

1st Place

[youtube]http://www.youtube.com/watch?v=Bh5TA6S4X24[/youtube]

2nd Place

[youtube]http://www.youtube.com/watch?v=cjk4ed1vsNQ&feature=related[/youtube]

3rd Place

[youtube]http://www.youtube.com/watch?v=QLIM1kS4-D8[/youtube]

Audience Favorite

[youtube]http://www.youtube.com/watch?v=u1Mj9VCd_0k&feature=related[/youtube]