The city of Avondale is redefining the traditional pitch competition with the launch of the Avondale Venture 500 — an event where innovation meets adrenaline on the racetrack.

In partnership with Tesoro VC and Freeway, Avondale hosted the event at Phoenix Raceway on Tuesday, April 7, bringing together tech founders, investors and industry leaders for a high-speed pitch competition.

“The city is really excited to host this event because it is an opportunity for Avondale to be put on the map in a global context,” Economic Development Director Jennifer Stein said. “This is definitely a one-of-a-kind pitch event where we are seeing innovation meet the fast lane in Avondale.”

Selected startups delivered their business pitches from the backseat of a professional pace car as a trained driver navigated the NASCAR track at speed.

With only a few laps to present, founders must combine clarity, confidence and conviction under pressure to make their case.

“This is venture capital at full throttle,” Mayor Mike Pineda said. “Avondale is at the center of growth and innovation in Arizona, and we welcome these founders and tech leaders to our city to see firsthand what is happening here.”

Stein said the event builds on strategic partnerships developed over the past year, connecting the city with founders, investors and business leaders across multiple ecosystems.

Those connections have helped bring experienced professionals to serve as judges and panelists, while also creating opportunities for emerging entrepreneurs to pitch their ideas.

“It takes a number of people to build and evolve industry and community,” Stein said. “Forming and strengthening those relationships has allowed us to bring these groups together and connect founders with investors to bring ideas to life.”

The city has partnered with venture capitalists and industry leaders representing innovation markets across the country, including Andy Lombard of Tesoro VC, Dr. Chris Yoo of Xcellerant Ventures, Aman Verjee of Practical Venture Capital, Paul Scannell of Cadence and Tim Wenzel of The (A)Lyst Group.

These venture capitalists work with capital partners — investors who provide financial backing in exchange for equity, typically without a role in daily operations.

Through partnerships with Tesoro VC and Freeway, participants will have the opportunity to present their ideas directly to those investors.

“Freeway is honored to partner with the city of Avondale to bring the Venture 500 to life,” Freeway CEO Daniela Santangelo said. “We’ve been overwhelmed by the enthusiasm from both founders and the broader community. This event speaks to the energy building in Avondale as a place where innovation is welcomed and supported.”

Attendees were able to engage with the event in several ways.

They could participate in The Hot Seat — where founders pitched live at 85 mph — The Fan Forum — where the spectators watched every moment from the Driver’s Media Lounge via a live broadcast of the on-track action — and The Pitstop — where attendees could connect over lunch, curated networking and a featured panel discussion with leaders across Arizona’s innovation ecosystem. 

“Avondale Venture 500 is about putting founders in motion, literally,” Lombard, founder and CEO of Tesoro VC, said. “It’s where high-conviction builders meet high-conviction capital in a format that reflects the speed and ambition required to win.”

The Pitstop discussion focused on how startups can engage industry early, structure pilot programs and build long-term partnerships that drive growth and economic impact.

“It’s significant for people to see how committed we are — as a city — to helping not only find success but removing any of those barriers that could cause the typical obstacles of entering into a business environment,” Stein said.

“We want them to know that we are a long term partner, we are here to find them space and get them connected with resources and workforce and whatever they need.”