Arizona’s startup ecosystem is flourishing with startups and venture capitalists continuing to flow into the state for its business-friendly environment, university research and entrepreneurial support programs.
That momentum is only expected to continue as startups — some of which are led by young, innovative entrepreneurs — create new products and solutions to make the world a better place.
In AZ Inno’s annual recognition of entrepreneurs under the age of 25, we highlight eight young business leaders whose companies cover a broad range of industries – from software development to retail to helping other entrepreneurs get their ideas off the ground.
Meet AZ Inno’s 2023 Under 25 honorees.
Dylan Capshaw, founder of Stemistry
Age: 17
Dylan Capshaw is a born entrepreneur.
At 11, he founded the Dylan Capshaw Wildlife Foundation, a nonprofit to save animals. In 2020, he launched another nonprofit, For the Frontline, which distributed more than 3,000 3D printed masks and face shields to frontline workers worldwide.
That same year, Capshaw was named a finalist for Nickelodeon and Time Magazine’s Kid of the Year award, which recognizes young leaders making a positive impact in their communities.
But Capshaw’s work wasn’t done.
In 2022, he opened coffee and flower shop Stemistry in Scottsdale, making him one of the youngest brick and mortar store owners in the country.
In February, Capshaw expanded Stemistry with a location in the historic Teeter-Carriage House in downtown Phoenix. The shop sells coffee, sandwiches and pastries as well as hosts a build-your-own bouquet bar.
“I love starting unique concepts. My long-term goal is to have a bunch of little concepts, maybe food service or restaurant space,” Capshaw said. “For now, I’m focusing on growing Stemistry. I’ve had a ton of help from big entrepreneurs in the Valley and others who have offered advice. I’d love to continue expanding and opening new places.”
Kate Fitzgerald, founder of VBAmerica
Age: 21
After the NCAA adopted rules allowing student athletes to benefit from their name, image and likeness in 2021, it opened the door for Arizona State University women’s beach volleyball player Kate Fitzgerald to pursue her passion of creating a lifestyle apparel company.
In 2022, Fitzgerald launched VBAmerica for volleyball players to show their love of the sport. The company’s shirts, hoodies, hats and accessories quickly gained a following among athletes.
VBAmerica was awarded a $15,000 grant in December at ASU’s Global Sport Venture Challenge, further fueling the company’s growth.
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Since then, VBAmerica forged wholesale partnerships with local businesses and secured licensing to sell collegiate-branded apparel online and in bookstores at seven universities, including ASU, University of Arizona, Northern Arizona University and University of Southern California, with a UCLA deal in the works.
The company in July hosted a pop-up shop at the Beach Volleyball Clubs of America National Championship tournament held in Hermosa Beach, California – an experience that Fitzgerald describes as amazing for the company.
Fitzgerald, a biomedical sciences major in her senior year at ASU, aims to continue expanding the VBAmerica brand into additional stores.
“I’m able to work with a lot of venture development through Sun Devil Athletics and I think that's been an incredible experience,” Fitzgerald said. “Another goal would be to help develop and give back to the sports world in any way I can. I think that is a very exciting opportunity.”
Pecas Beebe-DeVries, co-owner of Rail Three Ranch Leather
Age: 23
Pecas Beebe-DeVries is creating one-of-a-kind leather goods in downtown historic Florence with Rail Three Ranch Leather, which she operates with her mother, Sammi Jo Beebe.
Rail Three Ranch Leather has grown into an internationally-known brand that generates thousands of dollars in revenue since Sammi Jo Beebe started the company in 1997.
Beebe-DeVries joined the company full-time in 2018 and swiftly implemented a multi-channel advertising campaign via social media and a website that introduced the brand to new markets — strategies that increased online sales by 50%.
She also developed new product lines for Rail Three Ranch Leather, which is known for its unique, leather flowers featured on many of the company's items, including its popular handmade pocketbooks.
The company operates from a renovated adobe building in Florence, in addition to selling goods online and at western events nationwide.
Beebe-DeVries splits her time between operating the store and helping out on the family ranch, which operates as Rail 3 Ranch AZ. In addition, she helps produce rodeos in the Florence area, participates in rural conservation efforts in Pinal County and volunteers at nonprofits that support rural Arizona.
Beebe-DeVries is looking forward to featuring Rail Three Ranch Leather's goods at upcoming events, including the WRCA Trade and Trappings Ranch Expo and the Cinch Western Gift Show, in addition to crafting new items.
“We have three (new products) on our workbench and we're hoping to get at least two of them into shows by the end of the year,” she said.
Hari Meyyappan, co-founder and CEO of Hall of Fame Bets
Age: 24
Hari Meyyappan enjoys finding solutions to everyday problems, and that led to a path in entrepreneurship.
Meyyappan is co-founder and CEO of Hall of Fame Bets, a company that he describes as the “Bloomberg Terminal” for sports betting research.
On the data-driven analytics platform, users can research player performance and how teams historically perform against each other to make more informed sports betting decisions. Hall of Fame Bets has amassed nearly 30,000 users within a year and released a smartphone app in June.
Meyyappan and Erik Jones launched Hall of Fame Bets in 2022, a year after sports betting became legal in Arizona. Meyyappan, a longtime sports fan and Phoenix native, met Jones while attending Dartmouth College in New Hampshire.
Prior to launching Hall of Fame Bets, Meyyappan held marketing internships at Yazamo and LeadQuizzes, both based in Phoenix, and at Fountain, headquartered in San Francisco. He was also a business analyst for Phoenix-based Coplex, where he researched product-market fit and competitive landscapes for more than 17 early-stage startups, and presented pitch decks to senior executives representing mid-market to Fortune 500 companies.
Hall of Fame Bets, which has 10 employees, most recently added soccer data to its platform and will continue to increase availability of more sports in the future.
“What's important to me is just having strong relationships with my family and friends,” Meyyappan said. “I'm glad to be working on something that I really enjoy doing every day. My business partner is one of my best friends as well, so that’s awesome.”
Nathaniel George, director of the Cactus Flower Initiative for Youth Entrepreneurship
Age: 17
Nathaniel George’s entrepreneurial journey began as a sophomore at Brophy College Preparatory. He created the Brophy Young Entrepreneurs Club, which gained traction among students for its speaker events and meetings featuring local business leaders.
Eager for more entrepreneurial exposure, George visited StartUpPHX, a small business resource hub located in Burton Barr Central Library, but was disappointed that most of the resources and programming were geared toward adult startup founders looking for investors.
That led George in 2022 to launch the Cactus Flower Initiative for Youth Entrepreneurship, which set up a table at Burton Barr Central Library connecting youth with resources from Junior Achievement of Arizona, AZ Youth Force, Arizona State University's J. Orin Edson Entrepreneurship + Innovation Institute and more.
In what George describes as a full-circle moment, the CFI participated in StartUpPHX's small business expo held in March. The CFI also teamed up with StartUpPHX, the Compass CBS Foundation, and the Arizona Science Center to host a free Youth Entrepreneur Boot Camp over the summer.
George is working with Sen. Lela Alston on a legislative bill proposal to introduce entrepreneurship as part of financial literacy courses in schools across the state. He's also working with Arizona State Treasurer Kimberly Yee on a proclamation for a statewide 'Arizona Youth Entrepreneur Day' in November, which is National Entrepreneurship Month.
“Just having that visibility, I think, is important to a lot of entrepreneurs,” he said.
Trent Manager, co-founder and chief technology officer of BlockTec
Age: 23
Trent Manager is the co-founder and chief technology officer for BlockTec, a Phoenix-based software development firm that leverages artificial intelligence, blockchain technology and traditional IT services to help companies boost their technical efficiency.
Manager’s career in blockchain and software development was sparked by an interest in finance and the process of developing large-scale projects in industrial architecture, which he studied at Mesa Community College.
“Blockchain does a very great job of keeping the trust and transparency for all of us," he said. "My main grasp of software development really stemmed from an architecture background, and I just really wanted to understand the ins and outs of money and how it's continuously the most important part of our life and how it can be a more fair landscape for everybody.”
Manager began his software development career as an independent contractor, overseeing several blockchain projects and earning recognition as a blockchain subject matter expert.
Manager launched BlockTec with Josh Hedeby in January 2022. The company is under incubation at Intertec International, where Manager previously served as a blockchain specialist.
BlockTec has various projects under development, including a widget extension, similar to a personal assistant that connects to a learning management system to gain insight into students' learning styles and provide recommendations, reinforce concepts or answer questions.
Manager aims to potentially partner with a major university to co-develop and implement artificial intelligence-based software for students.
Maxwell Bregman, co-founder and CEO of BreatheEV
Age: 21
Maxwell Bregman can trace his interest in business back to a series of 1930s comics.
After inheriting a set of comics from his grandfather, he learned how to grade the collection and sold it. He combined proceeds from the sale with Bar Mitzvah money and invested in the stock market — later winning first place in a high school stock market analysis competition.
While in high school, Bregman founded 808Hertz, an entertainment company for DJing, photography and lighting.
After receiving a Flynn scholarship, Bregman enrolled at Arizona State University, where he’s in his senior year studying business data analytics with a minor in real estate.
While at ASU, Bregman, along with two friends, created the Collective, a group for ambitious students to network. In addition, he also formed a group to connect student startup founders and investors, including Howard Lindzon, an early backer of stock trading app Robinhood.
Bregman was involved in software development for New York-based startup Qrono, worked in ASU’s Luminosity Lab and consulted on data projects at Culdesac, the Valley’s first car-free residential housing community.
At the end of last year, Bregman co-founded BreatheEV, which created a platform for electric vehicle owners to locate and reserve charging stations.
Bregman oversees product development, data efforts and growth for the company, which does business with multifamily complexes to monetize their existing electric vehicle chargers or install new ones.
BreatheEV is launching a new mobile app and software at pilot sites throughout the Valley. It plans to scale quickly via partnerships with electric vehicle charging companies and multifamily apartment communities.
“My main driver is wanting to change the world and right now with BreatheEV, I think if we can build what we're setting out to do, we can change the way the transportation works in the U.S. and have a pretty large impact on the world,” Bregman said.
Theodore Cavender, co-founder of Vulcreate
Age: 23
As co-founder of Vulcreate, Theodore Cavender is helping entrepreneurs bring their product ideas to life via advanced 3D modeling and visualization.
Cavender, a junior at Arizona State University studying biomedical engineering, launched Vulcreate in May.
His idea for Vulcreate was sparked after an internship at biomedical company Humabiologics, where he designed laboratory equipment using CAD modeling software and a 3D bioprinter.
After making prototypes while involved in medical innovation programs at Massachusetts Institute of Technology and Harvard University, Cavender forged connections with startups, some of which were paying upward of $50,000 to create prototypes.
He thought there had to be an easier, more cost effective way to help companies get their ideas off the ground.
“They all needed 3D modeling but didn’t know how to bring them to life,” he said. "I realized how much 3D modeling software, augmented reality and virtual reality could help people.”
Vulcreate has a team of six people and is now developing product prototypes for companies worldwide.
“We designed an entire machine to scan and sort golf balls in-house for a manufacturer in Florida, making the process completely automated,” Cavender said.
Cavender hopes to expand Vulcreate to become a one-stop-shop to help entrepreneurs create a product, patent it and bring it to market.
“I really just want to get Vulcreate out there and let people know it’s fairly simple to make an idea come to life. We’d love to help. It’s not just a service to make money – I want to do it to help the world. If people could call up a company and make their ideas a reality, I feel like it would propel the world so fast.”
