This paper arose from a study exploring the contribution of various forms of capital to the development of the entrepreneurial firm. It centres on the influence of human capital, which constitutes the foundation of knowledge-based societies and bears on how entrepreneurs organize and manage new technology and knowledge-based ventures. It extends existing theory on human capital by suggesting that the choice of organizational and leadership practices are influenced by one important type of human capital: namely socialization from being trained to compete in sports involving such factors as physical strength, speed, endurance, a competitive mind, strategizing and team spirit; all ingredients necessary in building a new business. The paper is based on two data sets, triangulating qualitative and quantitative data.