Nike cofounder Phil Knight's best-selling memoir, "Shoe Dog," focuses on the company's scrappy, underdog, and entrepreneurial roots. 

Knight and Bill Bowerman launched Nike with a handshake, a tale known by all Nike employees. The waffle iron Bowerman used to invent Nike's iconic waffle shoe is even on display in the company's museum. 

"Nike is the quintessential entrepreneurial company," the 14-year Nike veteran Kate Delhagen, who now works as an angel investor , said. "It was founded by Phil, who is entrepreneurial at his heart. That spirit blows through the company. A lot of us channel Phil's lesson: $50 and a handshake, let's go. Pour some ingredients in a mold and see if it works."

Delhagen is among several Nike veterans who founded companies in recent years. They're trying to disrupt everything from traditional Nike categories like workout apparel to industries like funeral services.

Knight is even getting in on the action. While he remains Nike's chair emeritus, he helped launch a company last year that provides name, image, and likeness services for varsity athletes at the University of Oregon, his beloved alma mater. 

Delhagen pointed to several factors driving the surge in entrepreneurial activity, starting with Nike's stock-market ascendancy. Founders often struggle to find startup capital, but their Nike shares, which doubled the market's gain in the past decade, have given many former executives enough of a financial cushion to self-fund months, or even years, of a new venture.

In addition to financial capital, former Nike executives have enviable social capital, with thick Rolodexes of former colleagues and business partners. Several recent founders have hired other former Nike executives for important roles atop blooming organizational charts.

The founders and new hires include some former Nike employees who were let go in recent rounds of layoffs. 

"There are so many good people out there that have forgotten more about this business than a lot of people know," Aaron Miller, an 18-year Nike veteran and founder of SoleWorks, said. "They're just a phone call or a coffee away. Three years ago, five years ago, there was no way you were going to get that kind of knowledge on the street." 

A final factor: Nike has gotten so big that it's focusing its energy on the biggest ideas in its sights, things like the metaverse and film development. On a Monday earnings call, CEO John Donahoe mentioned a sustainable fabric in development that "could do for apparel what Flyknit did for footwear." Flyknit hit $1 billion in sales in five years.

"If you can't create a $1 billion business, it's just not worth the squeeze for them," Delhagen said. "There's a lot of stuff you can do between $0 and $500 million."

Here are 14 companies started recently by Nike veterans. The founders also give advice for those considering making the jump from the safety of a Fortune 100 to the high wire of running a startup.

Last position at Nike: Senior global director, Jordan brand

Miller's résumé includes time at Nike, Adidas, and Under Armour, but his 18 years at Nike loom largest. 

"I got my sneaker Ph.D. from Nike," he said. "I love Nike. I love what they've represented over the years."

Miller's startup, SoleWorks, provides product-development and branding services for athletes, artists, and brands.

"Product is the starting point," he said. 

The retired NFL player Marshawn Lynch is SoleWorks' first client. SoleWorks is developing a line of footwear and other products for Beast Mode, Lynch's apparel company. 

The apparel should launch this year. Footwear, both cleats and training shoes, will come in 2023. The products will be branded with Lynch's Beast Mode logo but feature secondary branding from Player Exclusives, part of SoleWorks.

Miller said the idea went back to the Nike mantra of "serving the athlete."

"My view of that has never changed," he said. "I come from that old DNA of listening to the athlete and always pushing for new and better."

Miller's partners include the Nike veteran E. Scott Morris, a venerated footwear designer, and Chris Grancio, the former head of basketball for Adidas. Rodney Knox, a publicist who's worked for Nike, is among those providing services to SoleWorks.

Miller said Nike's size is opening up business opportunities for entrepreneurs trying to tackle smaller chunks of the industry.

"They're so big, whether it's categories or athletes, subsets of the business are getting underserved because Nike can't get to everything," he said.

Last position at Nike: Vice president, Express Lane

Strack grew up doing downhill ski racing, but she hung up her skis and played college soccer because she wanted to be around female role models.

"There's no community as a young woman ski racer," she said. "It's so important to have a group of other women around you. I had zero access to role models, which is why I built Voice in Sport."

Voice in Sport provides young female athletes, typically ages 13 to 26, with access to mentors, and resources for mental health, nutrition, work experience, and activism. Strack launched the company in 2019. She also runs the nonprofit Voice in Sport Foundation.

Strack worked for Nike from 2004 to 2018, eventually becoming vice president of Express Lane, a sweeping effort by the company to get products to market quicker.

"I'm very thankful for the opportunities that I had while I was at Nike," she said. "I grew so much as a person and as a leader and as a businessperson."

Strack expects 2022 to be a big year for Voice in Sport. New clients include the Portland Thorns Academy and the University of California, Los Angeles. It's a driving force behind legislation that would strengthen Title IX. Allyson Felix, the most decorated track athlete in US Olympic history, is now a part owner and board member. 

"When we think about how we use the platform and the work that we're doing, we wanted to bring in a powerful voice that stands for equality and that is a fierce advocate for things that need to change in the sports industry," Strack said. "Allyson has a strong alignment with our values. And she and I both want to see a different future for our daughters."

Last position at Nike: Director, strategy and operations

There's a big difference between working for a Fortune 100 company and running a startup. 

"Just because you know how to build a PowerPoint at Nike doesn't mean you know how to start and run a company from scratch," Tang, the founder of the scrubs maker Lago, said. 

Tang, who holds an MBA from the London Business School, worked as a director of strategy and operations at Nike. He said running a startup was more about technical skills. 

Lago's scrubs are made from a material made from recycled plastic bottles. They're designed to "fit well and do good for the planet," Tang said.

While running startups requires different skills from working at a big company, Tang said his strategy background at Nike was an asset. It's helped him understand the market and competitive opportunities, as well as map long-term plans. 

He advised anyone starting a company to hire for specific skills, including digital marketing. Tang self-funded Lago, rather than taking on outside investors, to keep tighter control of the company and build a sustainable foundation.

"To me, it's important to build a business that survives in the long term," he said.

Last position at Nike: Kids-footwear designer, director of diversity, equity, and inclusion

Hannah, a former Nike designer, founded Mister OK's Essentials while she was on maternity leave. 

Her brand's candles are made out of soy wax with wooden wicks. 

Hannah self-funded the company and sold her first products at a pop-up marketplace that Nike previously hosted for the side hustles of employees. She brought 20 candles. She sold out in 30 minutes and took orders for another 127.

She left Nike in January after nearly a decade with the company, which included leading some of its diversity and inclusion work. She's now focused on Mister OK's Essentials full time. 

Her design background had been an asset because it separates the appearance of her candles from her competitors, Hannah said. She doesn't have a business background, but while at Nike, she made an effort to learn from her peers.

Nike offers employees "stretch" assignments that help them learn skills. Hannah did 11 of them.

"At Nike, you can get caught up being at your desk, but I think Nike also gives you the opportunity to move around," she said.

Mister OK's Essentials is available in several Portland, Oregon, boutiques, as well as small stores in California and Seattle. Since leaving Nike, Hannah has been focused on pitching larger wholesale clients. At each pitch, she's focused on telling a story about her brand. 

"The biggest thing I took from Nike is the importance of having a story and being able to back what you're saying," she said.

Last position at Nike: Vice president of global digital innovation

In his 21-year career at Nike, Olander was a familiar face at product launches and public events. He served as the vice president of global digital innovation.

In 2018, he cofounded Omorpho, a company that makes weighted workout apparel. The company launched its first products last year. 

Olander said his time at Nike laid the foundation for his entrepreneurial efforts and taught him the importance of details such as securing intellectual-property rights, including trademarks and patents. He spoke highly of his time at Nike but said he yearned to try something new. 

"If you're a creator, and you're an innovator, you have a burning desire to just try something without the safety net," he said. "Nike is an amazing company with tremendous resources and incredibly smart people. But it's also safe. I always had this burning desire to see what I can do. And I think after over 20 years at Nike, it was time."

In May, Omorpho announced a $6 million investment round that valued the company at $26 million.

Company: Bala Year founded: 2020 Last positions at Nike: Strategic-planning manager; vice president of running and emerging markets

Nike is known for listening to consumers. Lockard and Eberle are doing the same at Bala, the footwear company for nurses they cofounded in 2020.

The cofounders interviewed nearly 500 nurses before launching the company's first product.

Bala started taking preorders in September 2020. Within 12 days, it sold 7,700 pairs. The goal was 250.

The company employs eight people and has raised $2.5 million in venture capital.

Like other native direct-to-consumer companies, Bala is branching out into wholesale, recently signing its first two retail accounts.

Lockard said startup life was less glamorous than many expect but it's an opportunity to constantly learn skills and tackle new challenges.

"Running a business is a completely different exercise and skill set," he said. "Neither is better or worse. They're just very different. It's like playing football and playing golf."

Last positions at Nike: Vice president of global brand creative for men; vice president of global categories and consumer direct brand marketing; vice president and global head of design for digital, stores and content. 

Creech, Graham, and Moore last year launched Adopt, a marketing and creative agency, in partnership with the sports agent Rich Paul, who is best known for his representation of the NBA superstar LeBron James.

Creech subsequently told CNBC that Adopt would focus on brand building.

Adopt is part of Division Street, Phil Knight's new venture, which is helping University of Oregon varsity athletes monetize name, image, and likeness opportunities. 

"There is this opportunity we believe that exists in the sports and wellness space that we can come in, identify, and uncover market opportunities," Creech told CNBC.

Combined, Creech, Graham, and Moore have nearly 50 years of Nike experience.

Last position at Nike: Senior director of enterprise initiatives and world-headquarters region, government and public affairs

Brim-Edwards worked on a number of high-profile government projects for Nike, including a tax increase that Nike supported and an effort to get Nike an Oregon state-tax deal in exchange for a significant headquarters expansion.

Nike's hometown daily newspaper, The Oregonian, wrote a full-length story about her departure from the sportswear company.

BrimStrategy, her new public-affairs firm, will focus on business and real-estate development and expansion strategy, as well as public policy. She also remains on Portland's school board.

"I'm going to lace up the boots to play on a different pitch, cause 'good trouble,' put my passion and political muscle behind other issues and communities I care about, and spend more time with family and friends," she said in her Nike goodbye note, which she shared with Insider.

Last position at Nike: Vice president of global skateboarding

Inside Nike's hallways, there's an unbreakable faith in the ability of sports to unite and elevate, hearkening back to Knight's days running track at the University of Oregon. 

Many of the company's earliest employees ran collegiate track. Even today, many have a background in sports.

The importance of a unifying purpose is among the business lessons Strong took from her 17 years at Nike. 

In 2019, she left the company and cofounded the venture-capital firm Next Ventures with the former cyclist Lance Armstrong. The firm is part of an emerging ecosystem of venture-capital options for sports-technology companies. 

As part of its due diligence, Next Ventures looks for young companies with a strong focus.

"We look for a very strong founder story, ideally one that's very mission-driven," Strong said. "When there's a personal reason why this person has created the company, they're more likely to weather the inevitable ups and downs."

Last positions at Nike: Global brand director; Nike skateboarding product line manager; and global visual-merchandising director

Capone, Courtney, and Thomas worked a combined 45 years for Nike. They're part of the founding team of five at Merify, which is working to make hiring more based on skills and less based on résumés and interviewing ability.

The trio's Nike experience includes time in product, merchandising, marketing, and branding. Each job required quickly adapting and learning skills, a handy background for any entrepreneur. 

"It's about problem-solving and figuring things out," Courtney said in a previous interview with Insider, about his time at Nike.

Each of the cofounders has invested in Merify. In August, the company raised $300,000 from friends and family, exceeding a $150,000 goal. The cofounders are in the process of raising another $700,000.

Merify launched its first product in March, which is geared toward job applicants. The company's technology is industry-agnostic, but it's targeting software engineers at first, given the simplicity of evaluating coding skills.

It plans to launch a product geared toward recruiters in the fall. Job applicants won't pay to use Merify, but recruiters will, the company said.

Last position at Nike: Senior director of global digital-business development

Delhagen spent 14 years at Nike, working in a variety of roles, including management, distribution, sales, consumer positioning, branding, and business development.

"Each of them was a master class," Delhagen said of the caliber of her former Nike colleagues. "When I'm out here as an investor, it's given me a great perspective on consumer brands."

In 2017, Delhagen founded the nonprofit Oregon Sports Angels, an angel-investing organization.

It has invested nearly $6 million in 20 portfolio companies. It has two exits, OddLot and Heroclip.

The group has 45 members. Delhagen estimated one-third are Nike alums.

Company: Division Street Inc. 

Last position at Nike: Knight remains chair emeritus

Knight has always thought of himself as an entrepreneur, even after growing Nike from a scrappy startup in the 1970s to one of the most recognizable brands.

Last year, Knight exercised those muscles again, cofounding Division Street Inc. with several longtime friends and business partners. 

Division Street aims to help University of Oregon athletes navigate new rules that let collegiate athletes profit from their name, image, and likeness, or NIL. 

Knight, who remains chair emeritus of Nike, ran track at the University of Oregon. He remains an Oregon sports superfan.

Two highly regarded former Nike executives are on Division Street's payroll. Rosemary St. Clair, a former vice president of Nike's women's category, serves as Division Street's CEO. Rudy Chapa, a former Nike vice president of sports marketing, serves as its chair.

"Division Street has put together an extremely capable group to deal with the fast-changing landscape of NIL," Knight said in a statement last year.

Division Street is working with Adopt, another company recently founded by Nike veterans.

Last position at Nike: Global entertainment marketing

Williams describes his professional life as a "journey," not a "career." 

He toggled through jobs at Saucony, Adidas, and Nike before cofounding Claima Stories with BJ Frogozo in 2019. 

Claima tells the stories of entrepreneurs of color — mainly through its synonymous podcast — including people from the sportswear industry. 

Williams said his experiences at various brands, including Nike, prepared him for founding Claima.

"I don't think I would be here with you having this conversation if I didn't go through the journey," he previously told Insider. "Don't jump into entrepreneurship without allowing yourself to get experience that will make that journey easier."

Williams said aspiring entrepreneurs should consider the downsides to starting a company. 

"It doesn't come absent of challenges," he said. "There's a consistency and a payroll and a sense of security that comes with a 9-to-5 organization."

Last positions at Nike: Vice president of design, creative director; vice president of design for global football

Crawford and Odusanya left Nike in 2017.

They cofounded a design firm, then pivoted and in 2019 cofounded Solace, which wants to disrupt the cremation industry by making it more digital and direct.

"People who work at Nike are pretty driven," Crawford said. "Rather than just hang it up and retire, it's more, let's do something different. Both David and I feel like we grew up professionally at Nike. But we weren't ready to do nothing."

Nike executives often talk about listening to the athlete. 

"For Solace, we replaced that with a family that's gone through a loss," Crawford said. "We deployed the skills we learned at Nike to rethink the experience from top to bottom."

Debbie Carter and Jeremy Frank, both Nike veterans, work for Solace. Carter is chief marketing officer. Frank is chief operating officer.  

Last year, Solace announced a $1.75 million investment round. It's already expanded from Portland into Florida, and Southern California and been written about in The New York Times and Bloomberg.

Crawford, who first joined Nike in 1996, said the experience reminds him of Nike's celebrated early days of entrepreneurship, struggles, and triumphs. 

"Phil experienced that," he said. "We're experiencing that. We're on a rocket ship of growth. And there are moments when people worry about money. It's a roller coaster."