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If there is one word to explain Jameis Winstonthis is passionate. Whether he fires up his team by eating the Ws in pre-match speechdancing through post-match celebration whether he’s on crutches with a torn ACL or, more recently, investing in enterprise capital, the 2015 NFL’s first overall pick throws himself wholeheartedly into every endeavor. “The easiest part of my day is being true to who I am,” Winston says. “When I post online, I’m just being authentically myself.”
This way of considering is shared by his business partner, a serial entrepreneur and VC investor in the sports industry Danny Cortenraede. While most sports fans go crazy about touchdowns and home runs, Cortenraede almost giddy when he discusses fan engagement solutions or data analytics. In his investment company InStudio venturesCortenraede has channeled his entrepreneurial energy into partnerships with skilled athletes, including Winston, investing in sports technology, clubs and leagues, women’s sports and youth sports. “We are not a typical investment company,” he says. “We are entrepreneurs who have built companies and want to have a real impact on the sports industry.”
Game plan for founder success
InStudio Ventures was born out of Cortenraede’s recognition of a significant problem: almost 80% of startups fail inside five years. “It was just a crazy number,” he says. This led him to create a more systematic approach to VC investing. “In this way, we reduce the risk of our investments and increase the success rate of founders.”
His advice for aspiring entrepreneurs focuses on securing significant early-stage funding to cover relationships between friends and family, enabling founders to focus on growth slightly than survival. Cortenraede emphasizes the importance of product-market fit, customer feedback and key performance indicators akin to Net Promoter Score (NPS), customer satisfaction and retention rates to evaluate a product’s resonance with its goal market. Effective money flow management, scalability through process improvement and task automation are also critical.
This is all great, but Cortenraede believes that ultimately, success depends on building a resilient, agile team that aligns with the company’s vision. Winston echoes this sentiment: “We are all clueless about certain things, so we have to use the resources we have on our team to help us rise.”
From classmates to teammates
Before becoming business partners, Cortenraede and Winston were classmates in Harvard’s BEMS (Business of Entertainment, Media, and Sports) program, which Winston joined in the summer of 2023. Cortenraede accomplished his Executive MBA there. During a break from class, Cortenraede took the opportunity to introduce InStudio Ventures to Winston. Their first meeting outside Harvard took place in Los Angeles, in the presence of entire families – including children. “I had already seen Danny in an intense learning environment, so I wanted to see him in an environment where he could let his hair down and be himself,” Winston says. Cortenraede says what he remembers most about that first meeting was not only Winston’s performance, but also “the kind of person he is.”
Although a skilled athlete and a enterprise capital partner bring different skills, Winston believes that each roles require building real relationships. “As a quarterback, you have to work with everyone from the offensive line to the defense,” he says. In business, he evaluates his partners the same way he evaluates his teammates, but as an alternative of physical features, Winston values authenticity: “If you exude real energy, we will have a great conversation that will hopefully lead to a strong relationship.” He adds that he and Cortenraede they could lead different lives, but they are united by a passion for sports and a common goal – “to be the best”.
Going deep
With a nine-year NFL profession that earned him over $70 million, money is now not Winston’s primary motivation. Instead, he is inspired to make a significant impact on the sport and give back to the game that shaped his success. “All my life I was taught how to find ways to defeat an opponent in a formulaic way,” he says. Eventually, Winston realized he could apply the same skills to business. Under his manager’s guidance, Winston learned how empowered athletes might be by investing in technology and media platforms that elevate each their brand and industry, in addition to making an impact beyond the field of play.
“Yes, we will make great investments,” Cortenraede says. “But it’s more than that. It’s about doing something for young people and improving the industry.” Winston had already sprung into motion with a layup Dream Forever Foundation to support disadvantaged young people. “I want to learn from the best in entrepreneurship and venture capital so that I can share that knowledge with young people who want to grow in this space,” says Winston. “I love learning and I love inspiring others to learn.”