Agri-Food Finance Fellows and Undergraduate Student Teams Tackle Real-World Projects, Real-World Impact

• Lead: Miru Yim
• Students: AAEC 4414 - Applied Economic Problem-Solving Undergraduates
• Goal: Develop an investment strategy for specialty sub-industries relevant to Lead Foods Capital. Students will research a specific sub-industry, analyzing its market size, addressable market, key players, and supply chain dynamics. The objective is to identify a promising niche within the sub-industry for strategic investment opportunities.

The team had the chance to collaborate with Lead Foods Capital on an emerging market that had not yet developed consistent financial data and established benchmarks—the upcycled livestock feed market.

Their objective was to create a financial model and offer strategic insights that would assist Lead Food Capital in making informed investment decisions. This project required students to gather information from various sources, make sound assumptions, and build a financial narrative from scratch.

The real challenge was translating complex financial data into a clear, actionable story that could be understood by a non-technical audience. The team had to strip away jargon and focus on the relevance of our findings, ensuring that each financial insight had strategic meaning for our industry partner. The project pushed students to apply economic theory and modeling frameworks in a new way, emphasizing clarity, communication, and the ability to craft a compelling financial case.

“My experience taught me the importance of thinking strategically, collaborating with driven peers, and using the tools. This experience and the lessons learned will continue to shape my approach to decision making as I move into the next chapter of my life." Elizabeth Bates ’25, agribusiness management and minor in political science

“The ability to bridge technical depth with clear communication, especially in a space where information is scarce and investor confidence depends on clarity, was one of the most impactful takeaways of the project.”

Led by Miru Yim ‘25
Program Assistant, CALS Global
MS Candidate, Agricultural & Applied Economics

• Lead: Colby Crutchfield
• Students: AAEC 4414 - Applied Economic Problem-Solving Undergraduates
• Goal: To develop a comprehensive business plan to bring innovative ag equipment to the market. Students are estimating the addressable market, determining necessary investments for manufacturing, studying and formalizing margin prospects, and forecasting cash flows.

Crutchfield's team focused on CLR Systems, a company in the technology sector that designs and manufactures cutting-edge systems for the agri-food industry. This project taught students about the critical role that technology plays in improving efficiency and productivity within the industry. The team worked closely with the company’s leadership, including James and Aaron Black, to understand their needs and develop a plan that could position their technology in a competitive market.

"What a remarkable opportunity to be privileged with. The Kohl Centre is a must-have power supply for not only start-up entities, but anyone else seeking a fresh look for business templates," said James Black. 

Black didn't expect the magnitude of professional planning details at the end of the project when presented. He said, "Along with collecting market data, financial analysis, target opportunities, and overall business plan suggestions, the students created a website template for communications and advertisement."

He expressed that he expected some help, but had no clue the students would hand us the keys. "The level of commitment to detail was outstanding, and it was real and on display.  Our farming operation has a very limited supply of working capital, and we were shocked at the results given by the students that we would have otherwise been unable to afford. JOB WELL DONE." 

Black said that he can't begin to explain how many doors this has opened and the potential for a major industry impact. The future of farming is changing, and cover crops will be the centerpiece of the required adaptation. He said it is through the focus and work of the students in collaboration with the Kohl Centre, that CLR Systems will be unveiling this opportunity to the farming industry.   

"Combine-seeded cover crops will be a major player in a new frontier of conservation in farming, and we continue to work closely with Virginia Tech and private partners to prove this," he said. 

Salme Sifford '25, a dairy science major with minors in agribusiness, applied economics, and animal science, said, “This project taught me a lot about real-world work environments. It was great to interact with industry professionals and learn how to work with a team in an extremely professional environment. I enjoyed having full freedom to contact the owner of the company we worked with, and my team whenever needed. This allowed us to be creative and implement several good ideas!”

"This capstone project was extremely well run by Dr. Ortez and gave us all great experience in working as a team and in a professional setting. I learned how important it is to have an open line of communication with the people you work with, and I was surprised to learn how rewarding it can feel to help someone get closer to their final goal, like we have with James and Aaron."

Led by Colby Crutchfield '25
Dairy Science

Check out Colby’s experiential learning journal Kohl Insight blog: The Future of Farming: Collaborative Efforts with CLR Systems to Boost Row Crop Profitability

• Lead: Michele Mickelwait
• Students: AAEC 4414 - Applied Economic Problem-Solving Undergraduates
• Goal: To assess the economic viability of Grayson Vineyard, located in rural Grayson County, Virginia, with a focus on the intersection of technology and profitability. Co-founded by local entrepreneurs, this vineyard represents a broader movement in Southwest Virginia aimed at enhancing the region's competitiveness in grape production. The project will examine the financial impact of modern agricultural technologies, including precision irrigation, soil sensors, and pest management systems. Collaboration with the vineyard’s founders, local farmers, Extension agents, and other stakeholders will form the foundation of this initiative.

Location, location, location is key to any business. This project allowed Michele Mickelwait, the team lead, to oversee a team of students in a dynamic and challenging environment. Working with an actual business showed her the challenges of limited information with financial analysis and the importance of communication. She was also surprised to learn that an open-ended project is much more challenging than one with strict guidelines.

"The final deliverable was very much a comprehensive business plan, with current and projected market conditions, ideas for differentiating from competition through specific marketing approaches, recommendations for short-term revenue generation, and long-term growth plans with well-thought-out capital expenditures," Mickey Cowden, entrepreneur, said. 

Cowden said the big value-add for his vineyard was the actionable insight he gained from the students’ final business plan and the process of working together with the team. 

"Working with the Kohl Center and the student team was a fantastic experience. This is such a great program where students can get relevant experience in critical thinking, while providing a company with high-achieving knowledge of best practices and a fresh perspective. I hope to have an opportunity to work with the Kohl Center again in the future," Cowden said.

“This project taught me that teamwork is essential to being successful. Communication and accountability allowed each of us to utilize our strengths to the best of our abilities, and then come together to work as a team.” Megan Sandidge, ’25, Public Health and Food and Health Systems Economics

“Attending the Virginia Wine Board meeting with Mary Burrows was a really cool and unique opportunity that students usually don’t get to experience. It gave me an excellent perspective on current issues facing the wine industry that I was able to use for my project.”

Led by Michele Mickelwait ‘25
Agribusiness

• Lead: McKenzie Marker
• Students: AAEC 4414 - Applied Economic Problem-Solving Undergraduates
• Goal: To explore economic opportunities in Buena Vista, which is trying to brand itself as a regional outdoor destination. McKenzie Marker led a team of students to use financial modeling, market analysis, and marketing concepts while leveraging advanced data analytics tools.

One of the most impactful projects involved working with the city of Buena Vista, Virginia, to support their economic development goals. The team helped the city identify growth opportunities and create a strategic plan to enhance its local economy. A key part of this project was the site visit, which allowed students to see firsthand the unique qualities of the town and its community. This immersive experience gave them a deeper understanding of how economic policies and strategies play out in a real-world context.

“I was incredibly impressed with how diligent and professional the students were. They followed up consistently and gave me the space to respond,” Jen Carpenter, executive director of Main Street Buena Vista, said. “Their deliverables went above and beyond—doing not only their due diligence on what works in similar communities, but also taking marketability into account.

She says one of her favorite takeaways was their deep dive into a proposed business, along with mockup financials. The example the students gave was for an outdoor rental business—they discovered that in order for it to be profitable, it would need to be approached in a more bootstrapped, resourceful way.

“That kind of insight is invaluable,” Carpenter said.

For Ansley Napier, a junior majoring in Elementary Education with an Agribusiness and Entrepreneurship Minor, the Buena Vista project was an eye-opening experience.

“This project has allowed me to apply the skills that I have been cultivating throughout the past three years regarding agricultural economics in an environment where our learning was encouraged and supported. It also revealed the importance of understanding local dynamics and how economic theories play out in different community settings.”

“We also gained in-depth research on what’s currently missing in our area. I’m so grateful that they took the time to connect with our local businesses—they really went above and beyond,” she said.

The big takeaway of the work, according to Carpenter, is that she now has a comprehensive analysis package ready to go for investor information sessions and entrepreneur meetings. The package gives people a clear starting point—helping them learn, ask better questions, and make more informed decisions based on real data.

“I was surprised to learn that so many aspects of what we learn in class are deeply interconnected. In school, subjects like marketing, finance, and management are usually taught separately, so it can be hard to see how they relate. But through this project, I saw how all these concepts come together in a real-world context. Compiling everything into a cohesive plan to support a city made it clear how important it is to understand how these areas overlap and work together.”

Led by McKenzie Marker ‘26
Agribusiness with minors in Religion and Horticulture

• Lead: Alex Brandon
• Students: AAEC 4414 - Applied Economic Problem-Solving Undergraduates
• Goal: To transform a groundbreaking idea into a viable business opportunity, students will collaborate with the founder and team to learn the intricacies of product commercialization. They will provide valuable insights and strategies for market entry. As part of the project, students will explore potential synergies with food scientists and engineers who may offer expertise on this innovative technology.

Brandon's team worked closely with Agria, a company focused on sustainable agriculture through controlled environment systems. This project gave students the chance to explore the cutting-edge innovations in agriculture that combine technology and sustainability. The team was tasked with analyzing Agria’s financial models, understanding its unique approach, and helping develop a strategy to attract investors by demonstrating its market potential.

The experience was eye-opening, with team members realizing how agricultural systems, including soil health, plant biology, and crop timing, are crucial even in controlled environments. This project helped students see the broader implications of sustainable agriculture—how it doesn’t replace farmers, but instead enhances their ability to produce higher yields with more efficient tools and systems. The project underscored the importance of precision and attention to detail when developing innovative agricultural technologies.

“Working with Agria has really helped prepare me for post-graduation. Throughout the project, I saw financial models that I had yet to see, as well as deepened my understanding immensely of them. I learned how to work with a company and focus on its goals and objectives to allow Agria to thrive and stand out in the market to investors.” Lauren Armstrong ’25, Agribusiness

“I was surprised to learn that soil health, plant biology, and crop timing are just as important in Agria’s system as they are in an outdoor field. From this, I realized that sustainable agriculture isn’t replacing farmers, but instead is a tool to be able to produce higher yields with better tools and systems.”

Led by Alex Brandon ‘26
Agribusiness

Check out Alex’s experiential learning journal Kohl Insight blog: Agria and rethinking controlled environment agriculture