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The "Final Five"

#1 Thunder from Down Under: $20,000 Scholarship

Idea: Thunder from Down Under
Student Names: Tarun Koshy, Nicholas Williams
School: University of Michigan
Idea Summary:
Much energy lurks beneath the glassy surface of Michigan's 36,350 miles of rivers and lakes. The power of underwater currents, capable of generating colossal amounts of energy, currently lies dormant and untapped. This dynamic force of nature can be harnessed by the installation of underwater turbines in major sources of flowing water. These water turbines, similar to their wind-powered counterparts, are spun by the force of underwater currents, resulting in a continuous flow of electricity. The manufacturing, installation and maintenance of these turbines will establish jobs and spur investments in R&D. Furthermore, the promising future of electric vehicles from Ford and GM, demands a clean, renewable and uninterruptible energy source. This mechanism symbolizes an ideal paradigm of the green energy movement that residents will be proud of, showcasing the exceptional ingenuity of Michigan's scholars. It will help Michigan regain its historic title as the center of innovation in America.

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#2 Financial Literacy Pilot Program: $12,500 Scholarship

Idea: Financial Literacy Pilot Program
Student Name: Jacob Berkey, Kylie Vasa
School: Western Michigan University
Idea Summary:
It is important to look within the state to see how flaws in our system have contributed to Michigan's economy. Students are not taught personal finance skills that can lead us out of this recession. The financial problems of today lay in the hands of tomorrow's leaders. Implementing a program designed to educate high school seniors in the practices of personal finance is critical to ensuring a prosperous future. Curriculum would cover budgeting, investing, retirement, loans, mortgages, taxes, financial aid, etc. Each issue would be covered in-depth and related back to students to ensure they grasp both the concepts and their importance. Educated teachers, detailed curriculum, and parental involvement, are needed to properly implement this program. Individuals who are economically responsible in their personal life are likely to be even more so in their professional ones. This would mean less unjustifiable debt, less loan defaults, and an increase in savings.

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#3 Michigan Pride Consumer Action Plan: $7,500 Scholarship

Idea: Michigan Pride Consumer Action Plan
Student Name: Allison Bray
School: University of Detroit Mercy
Idea Summary:
Michigan consumers have the power to help change the economy one dollar at a time by purchasing Michigan products and services from Michigan businesses. My idea is to expand on this initiative and make it easy, practical, and rewarding for the Michigan consumer. There are many websites that list Michigan made products, but many consumers do not have this information on hand at the critical time of purchase. My plan would encourage stores to highlight Michigan made products, by placing Michigan shaped signs next to the products or by having a Michigan Made section that carries Michigan products and gift cards to Michigan businesses. My plan would also reward the consumer for purchasing Michigan made products, with a small percentage of the sale going into a Michigan college savings account. This is a plan that anyone can participate in, regardless of income level, to help save our state.

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#4 Maple Syrup: Using Michigan's Natural Resources: $5,000 Scholarship

Idea: Maple Syrup: Using Michigan's Natural Resources
Student Name: David Kossak
School: Michigan Technological Universtity
Idea Summary:
For thousands of years, production has been ongoing of a product where demand has always exceeded supply. Introducing large scale maple syrup production to Michigan would provide many millions of dollars of revenue and countless jobs. The syrup industry is clean, green, and the raw materials needed are in our own backyard. Using figures from Quebec, the undisputed champion of maple syrup production, we can determine that the state has a potential of producing 280 million gallons of syrup a year, which at $40.50 per gallon constitutes 11 billion dollars worth of syrup, annually. Clearly the potential for the industry to bring a dramatic change to our state's economy is here. What we need is support from the state government, and industrious people to take this idea and make it a reality.

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#5 Michigan Card: $2,500 Scholarship

Idea: Michigan Card
Student Name: Anthony Leo
School: Wayne State University
Idea Summary:
In a way to help small local businesses compete with large corporations, I propose we develop a "Michigan Card". Michigan consumers would receive a built-in discount that would encourage them to place money on their card. For example, a consumer would pay $100 in U.S. currency and receive $105-110 on their "Michigan Card". The money deposited on the card would only be accepted at participating local businesses and the funds for this discount would be subsidized through a pool created from dues collected from participating businesses. The amount each business pays to participate in the program would be calculated by taking into account the size of the business and the volume of transactions it is involved with on a monthly basis

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