Supporting Agriculture Through AI

Students from HBCUs across the country convened in the capital of Delaware to compete in a national pitch competition that was designed to provide AI-driven solutions for the U.S. agricultural industry, thanks to a program co-created by Capital One and Delaware State University.

The Capital One Delaware State University “Innovation Venture” was a first-of-its-kind summit and product showcase that brought together not only undergraduate and graduate level students, but also middle- and high-school students from all Delaware counties. With up to $225,000 in startup capital up for grabs, the event drew 600+ attendees to the Dover campus of the university, with the opportunity to hear from elected officials, industry leaders, technologists and business leaders alike discuss topics at the intersection of technology, agriculture and entrepreneurship.

“Delaware State University is proud to continue our partnership with Capital One and provide a platform to elevate the next generation of tech-driven leaders in agribusiness,” said Tony Allen, President of Delaware State University. “Entrepreneurship is a key foundation for building generational wealth.” Dr. Allen, along with Dr. Cherise Winstead, Dean of the DSU College of Agriculture, Science and Technology, led the charge on the DSU side, capitalizing on the school’s recent designation as a USDA Center of Excellence in Emerging Technologies.

“We hope that Innovation Venture is just one stop on the journey for these student leaders who are bringing bold solutions to food supply production in a way that will revolutionize the future of agriculture,” said Kerone Vatel, Head of Community Finance, Impact and Investment at Capital One.

Students and attendees had the opportunity to hear from Delaware Governor Matt Meyer (D-DE), United States Sen. Lisa Blunt Rochester (D-DE), former United States Sen. Tom Carper (D-DE), and Delaware Secretary of Agriculture Don Clifton, who delivered opening remarks highlighting Delaware’s agricultural industry, its contributions to the local economy and the importance of empowering local students to play a role in advancing the industry. Delaware Chief Information Officer Gregory Lane also spoke on a panel on the intersection of AI and agriculture. 

“It’s an amazing experience, because it allows us to take our diverse ideas and put them into a real space where it can be valued and actually taken to the next level,” Delaware State University student participant Awasung Moma told WBOC. “The technology is growing in our faces, so the only thing that we can do is join the wave and try to actually use that technology to help our lives, you know, be just a little better.”

Programming from the day-long summit included a number of fireside chats and panel discussions on the state of agribusiness in America from leaders such as Sec. Don Clifton, as well the importance of small business growth, entrepreneurship and financial literacy from experts in the field including Daymond John, Investor and Shark on ABC’s Shark Tank and James Lindsay, CEO of Rap Snacks. Capital One’s Lo Li, Managing Vice President of Bank Tech Retail Consumer Engineering, and Clint Grimes, Chief Procurement Officer, moderated the conversations with Daymond and James. 

Elevating Student Talent

Ahead of the April 14th event, Capital One and Delaware State University paired students with an investment accelerator, Bronze Valley, who helped students refine their products and strengthen their business models. Student inventors worked alongside Darren Stephenson, Director of the Bronze Valley VentureLab Delaware, to pressure-test business concepts, assess product viability and master presentation skills before getting onstage to present to the crowd and a panel of eight judges. 

"Innovation Day represents the culmination of our vision to cultivate entrepreneurial talent in our  communities," said Darren Stephenson. “Working with these exceptional students witnessed firsthand how strategic mentorship and collaborative support can transform promising ideas into viable business concepts. The Bronze Valley, Human Innovation Institute and gener8tor partnership helped create  a platform where these young innovators could not only showcase their ingenuity in agribusiness and technology but also gain invaluable experience in market validation and investor pitching.”

The panel of judges were community leaders, homestead professionals and investors from Delaware and beyond. Students were judged on innovation and originality, technical execution and market potential, business viability, societal and agricultural impact, and presentation quality. 

“Delaware State University has always been a place where big ideas are nurtured, and Innovation Venture takes that legacy even further,” said Jennifer Golek, Head of Finance Product and Data Solutions at Capital One, who participated in the judging panel. “These students weren't just pitching concepts. They're building real solutions to real-world challenges. As a judge, it was incredibly inspiring to witness their creativity and technical talent, especially at such a young age. The competition was a showcase, but even more than that, it was a launchpad for the next generation of entrepreneurs in ag-tech and AI. It’s an honor to support a program that's opening doors to industries where fresh, innovative perspectives are needed more than ever."

Code Differently was named winners of the middle- and high- school tier, receiving $50,000 for their product “Solution Station,” a photo-recognition app that uses AI algorithms to identify agricultural pests. Undergraduate students from Delaware State University were awarded $75,000 for their product “Agribonum,” an AI solution that automates and rejuvenates current food supply chain practices by supporting urban and indoor farming facilities. 

“The vertical application of technology from startups is powerful, especially when it comes to something as critical as putting food on the table,” said Arun Parmar, an investor at Capital One Ventures and business plan competition judge. “The work behind the scenes to prepare for this day was evident. The students I saw exhibited a startup mentality - seeing potential and thinking about how to solve problems through technology innovation, a smart business model and visible commitment. I was super impressed.”

The highest tier prize winners were graduate students from Morgan State University in Baltimore, Maryland who received $100,000 for their AI-powered hydroponic farming system “AgroVision,” that automated space-efficient food production. A team from South Carolina State University took home the People’s Choice’s Award, for its product “Sprinkle AI.”

Joe Westcott, Capital One’s Delaware Market President, Dr. Winstead, and Stephenson of BronzeValley presented the winning teams with their checks. Winners now move on to a post-accelerator program to scale these ideas into viable, market-ready products to apply to today’s most pressing agricultural challenges. 

“It’s incredible to witness innovations like this happening right here in Delaware. We’re excited to see how these products will address real world issues in agriculture, both within the state and the broader industry,” said Westcott. 

Leveraging Our Tech Expertise in our Commitment to Agriculture

Agriculture plays a critical role in economic growth, contributing roughly $1.537 trillion to the economy and supporting over 22.1 million jobs. In the state of Delaware, agriculture is the number one industry, generating billions of dollars and full and part-time jobs for the state’s economy each year.

Innovation – through technology, machine learning and AI – helps ensure that the national agriculture system continues to grow and thrive. Capital One was founded on the principle of using technology, data, and analytics to tailor products and services to our customers’ needs. Technology is core to who we are as a company. 

“At Capital One, we’re known for using technology to serve millions of customers,” said Emmanuel Offiong, VP and CTO of Small Business Bank & Treasury Management. But we also strongly believe that technology should serve communities. That’s why we’re investing in programs like this one, where students have the tools, training and support to build businesses that make a real impact.”

Capital One is using real time AI and machine learning to solve challenging industry problems and build products, services, and experiences that can make a real difference in millions of peoples’ lives. This makes us a natural partner to support Ag-Tech initiatives like Innovation Venture, where Capital One’s expertise can be leveraged to begin developing solutions and elevate the next generation of leaders in the space alongside Delaware State University. 

Capital One’s Ongoing Investment in Delaware

Innovation Venture is the latest in Capital One’s commitment to Delaware, and its longstanding partnership with Delaware State University. In 2021, Capital One donated a $4.7m facility in Wilmington, to the school. Dubbed “Delaware State University Riverfront,” the site is now headquarters of the University's School of Graduate, Adult, and Extended Studies and is an incubation hub for micro and small businesses. 

Capital One also brought career accelerator Braven to DSU, by providing $ 1.5 million in grant funding in 2023, supporting more than 2,100 students over five years. Braven’s focus is first-generation college students, students from low-income backgrounds and/or students of color as they transition from college to the workforce. Recently, Braven welcomed Capital One’s Lo Li to the Braven Delaware Board. 

Since the inception of its community impact program, Capital One has provided over $21 million in grant funding to Delaware-based nonprofits. Additionally, Capital One has pledged a $35 million commitment to philanthropy in Delaware, as a part of the five-year, $265 billion Community Benefits Plan under Capital One’s newly approved acquisition of Discover.