The Venture Studio is not a preset program. Entrepreneurs enter when the time is right for them. Together we will build a program of support customized to your needs and to help achieve key milestones. We mobilize the right resources – subject matter and general business expertise, opening doors to potential customers and partners, access to our athlete network and investor network to help accelerate your business.
We are open to a range of startups from pre-seed up to Series A. Our ideal company has a minimum viable product (MVP) built, has some customer traction, likely some revenue, and needs resources to further refine their product market fit and plan for growth. At the same time, we welcome conversations for very early concepts.
Our focus is broadly defined as technologies defining the future of how we play, consume and experience sports. Target areas include Athlete performance, Health & Wellness, Training & Team Management, Data & Analytics, Fan Engagement, Social Platforms, Fantasy Sports and Fan experience in and out of stadium.
We know that every startup and scenario will be different. Entrepreneurs working with Venture Studio will benefit from a number of resources, including the potential for additional capital and access to investors intended to help grow their business.
Companies accepted into the studio participate and have access to resources for twelve months. We will work with you to design a program that allows you to stay focused on building your business and take advantage of the resources and activities that the Studio will offer.
No, you don’t have to be located in Boston. The program will be a mix of virtual and in person engagement as needed. We anticipate some of the in-person activities will take place around the country in collaboration with our Athlete Network activities.
We have a rolling admissions process, so companies apply when the timing is right for them. Companies will fill out an application to share more about their team, company, traction, goals and how the Venture Studio can help them. There are two rounds of screening and diligence.
Applications will first be reviewed by the Venture Studio team for initial screen and diligence, followed by a second round where we dive deeper in your business with support from a select group of DRIVE advisors selected based industry experience and expertise. Final recommendations will be presented to the Venture Studio Committee for approval.
Immediately. We are eager to speak with companies to begin the screening process. We will review your application and we will set up a conference call or in-person meeting and we can bring you up to speed at that time.
We don’t have a pre-set target. We want to find great companies that can truly benefit from all the other resources we can bring to bear.
DRIVE is a separate corporate entity. DraftKings has a minority ownership stake in DRIVE. The other owners of DRIVE are General Catalyst, Accomplice and Boston Seed. No company is better positioned than DraftKings to provide entrepreneurs with the opportunity to understand firsthand how a successful sports-tech company operates. DraftKings’ role is perfectly fitting with the company’s co-founders’ shared commitment to support and strengthen the broad sports-tech industry.
DRIVE is a unique collaboration between DraftKings and several of America’s leading venture firms, General Catalyst, Accomplice and Boston Seed. The three firms collectively provided the funding necessary to launch and operate DRIVE.