Melissa Giles, 22

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Launching an urban street-team company at 16 and creating the Soulfrito Urban Latin Music Festival at 19 weren't a stretch for Melissa Giles.

Ms. Giles, now 22, learned music marketing and promotions from her father, David Giles, a Miami music promoter. Ms. Giles knew the clubs, the radio stations and the big acts she could lure. More importantly, as a Venezuelan-American, with some Italian and English mixed in, Ms. Giles resembles her target demographic. Her company, Misto Marketing & Management in Miami, gets its name from the Italian word for "mixture."

On Oct. 30, Soulfrito will draw to downtown Miami thousands of Hispanics, and a handful of sponsors looking to reach the country's fastest-growing ethnic group.

Next up for Ms. Giles: merchandise, fashions, entertainment and a road show. She asserts: "I want to develop this as a lifestyle brand for the market."