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Gary Dushnitsky

Associate Professor of Strategy and Entrepreneurship

BA MSC (Tel Aviv) PhD (New York University)

Dr Gary Dushnitsky is an Associate Professor of Strategy and Entrepreneurship at London Business School. He also serves as a Senior Fellow at the Mack Institute for Innovation Management at the Wharton School of the University of Pennsylvania.


His work focuses on the economics of entrepreneurship and innovation. He explores the shifting landscape of entrepreneurial finance, exploring such topics as corporate venture capital, crowdfunding and accelerators. His research has appeared in leading academic journals, including Organization Science, the Strategic Management Journal and Nature Biotechnology.


Dr Dushnitsky has received several academic distinctions, including the 2013 SMS Emerging Scholar Award, the 2009 Kauffmann Junior Faculty Fellowship and several best dissertation prizes. He serves as the Co-Editor at the Strategic Entrepreneurship Journal and a Senior Editor at Organization Science.

Research Awards


  • Strategic Management Society Emerging Scholar Award, 2013 ($5K)

  • London Business School Term Associate Professorship of Strategy and Entrepreneurship, 2012-2014.

  • Nokia Siemens Network Award for Best Paper in Technology Management, EURAM 2012.

  • London Business School Research and Materials Development Grant (£10k), 2012.

  • Chris Ingram Strategy, Entrepreneurship and Leadership Fund (£20k), 2010-11.

  • London Business School M Lab Grant (£3k), 2011.

  • London Business School Research and Materials Development Grant (£6k), 2010-11.

  • Outstanding Reviewer Award, Journal of Business Venturing, 2009.

  • Kaufman Junior Faculty Fellowship ($50k), 2009-2011.

  • Distinguished Paper Award (BPS Division).AoM, 2008

  • Sumantra Ghoshal Practice & Research Award (BPS Division).AoM, 2007

  • Best Paper Award, Israel Strategy Conference, 2007

  • Research Grant, Wharton Entrepreneurial Programs (WEP), 2004 - 2010.

  • Heizer Award for Best Dissertation (1st place; Ent.Division). AOM, 2005

  • Best Dissertation Award (1st place; TIM Division). AoM, 2005

  • Best Dissertation Award (Finalist, 1-of-5; BPS Division). AoM, 2005

  • Economics of innovation and entrepreneurship
  • Corporate strategy in knowledge industries
  • Venture capital
  • Crowd funding
  • Intellectual property rights

2022

Here comes the sun: the impact of incidental contextual factors on entrepreneurial resource acquisition

Dushnitsky G; Sarkar S

Academy of Management Journal 2022 Vol 65:1 p 66-92

How do investors evaluate past entrepreneurial failure? Unpacking failure due to lack of skill versus bad luck

Zunino D; Dushnitsky G; van Praag M

Academy of Management Journal 2022 Vol 65:4 p 1083-1109

Investigating the mix of strategic choices and performance of transaction platforms: Evidence from the crowdfunding setting

Dushnitsky G; Piva E; Rossi-Lamastra C

Strategic Management Journal 2022 Vol 43:3 p 563-598

Why do incumbents fund startups? A study of the antecedents of corporate venture capital in China

Dushnitsky G; Yu L

Research Policy 2022 Vol 51:3

2021

Low-code entrepreneurship: Shopify and the alternative path to growth

Dushnitsky G; Stroube B

Journal of Business Venturing Insights 2021 Vol 16:e00251

2020

Entrepreneurial responses to crisis

Dushnitsky G; Graebner M; Zott C

Strategic Entrepreneurship Journal 2020 Vol 14:4 p 537-548

2019

A fresh look at patterns and assumptions in the field of entrepreneurship: What can we learn?

Dushnitsky G; Matusik S F

Strategic Entrepreneurship Journal 2019 Vol 13:4 p 437-447

Lost in translation: exploring the antecedents to corporate venture capital in China

Dushnitsky G; Yu L

Academy of Management Proceedings 2019

The role of crowdfunding in entrepreneurial finance

Dushnitsky G; Zunino D

in Parhankangas A, Mason C and Landström H (eds.), Handbook of research on crowdfunding, Edward Elgar, 2019.

2018

Are we missing the platforms for the crowd? Comparing investment drivers across multiple crowdfunding platforms

Dushnitsky G; Fitza M

Journal of Business Venturing Insights 2018 Vol 10:e00100

Seeding a star or constructing a constellation?: corporate venturing as an ecosystem strategy

Dushnitsky G; Kang S

Academy of Management Proceedings 2018 Vol 2018:1

Variance decomposing accelerator and cohort effects among London startups

Dushnitsky G; Sarkar S

Academy of Management Proceedings 2018 Vol 2018:1

2017

A review and roadmap of entrepreneurial equity financing research: venture capital, corporate venture capital, angel investment, crowdfunding, and accelerators

Drover W; Busenitz L; Matusik S; Townsend D; Anglin A; Dushnitsky G

Journal of Management 2017 Vol 43:6 p 1820-1853

Strategic entrepreneurship journal at 10: retrospect and prospect

Agarwal R; Dushnitsky G; Lumpkin G T; Wright M; Zott C

Strategic Entrepreneurship Journal 2017 Vol 11:3 p 197-199

Which industries are served by online marketplaces for technology?

Dushnitsky G; Klueter T

Research Policy 2017 Vol 46:3 p 651-666

2016

Are entrepreneurial ventures' innovation rates sensitive to investor complementary assets? Comparing biotech ventures backed by corporate and independent VCs

Alvarez-Garrido E; Dushnitsky G

Strategic Management Journal 2016 Vol 37:5 p 819-834

Crowdfunding in Europe: determinants of platform creation across countries

Dushnitsky G; Massimiliano G; Piva E; Rossi-Lamastra C

California Management Review 2016 Winter Vol 58:2 p 44-71

Linking technologies to applications - insights from online markets for technology

Dushnitsky G; Klueter T

In Folta T, Helfat C and Karim S eds., Resource Deployment and Corporate Strategy (Advances in Strategic Management, no. 35)

What inventions do corporate entrepreneurship programs access? Corporate venture capital investment in complementary and substituting ventures

Dushnitsky G; Shaver J M

in: Handbook of Corporate Entrepreneurship, Edward Elgar. 2016. Part III, Chapter 10

2014

Corporate venturing

Dushnitsky G

In Augier M and Teece D (eds.), Palgrave Dictionary of Strategic Management, Palgrave.

2013

Publications and patents in corporate venture-backed biotech

Alvarez-Garrido E; Dushnitsky G

Nature Biotechnology 2013 Vol 31 p 495-497

2012

Corporate venture capital in the twenty-first century: An integral part of firms' innovation toolkit

Dushnitsky G

In Oxford Handbook of Entrepreneurship, Cummings (ed.) Oxford University Press, Oxford

More than words: Is startups' propensity to turn publications into patents sensitive to investor characteristics?

Dushnitsky G; Alvarez-Garrido E

Academy of Management Best Papers Proceedings 2012

2011

Financial resources for the new venture: how to get them

Dushnitsky G

in Shane S. (ed.), Entrepreneurship: , The Marketing & Management Collection, Henry Stewart Talks Ltd, London

Is there an eBay for ideas? Insights from online knowledge marketplaces

Dushnitsky G; Klueter T

European Management Review 2011 Vol 8:1 p 17-32

2010

Entrepreneurial finance meets organizational reality

G Dushnitsky; Z B Shapira

Academy of Management Best Papers Proceedings 2010 September Vol 31:9 p 990-1017

Entrepreneurial finance meets organizational reality: comparing investment practices and performing of corporate and independent venture capitalists

Dushnitsky G

Strategic Management Journal 2010 Vol 31:9 p 990-1017

Entrepreneurial optimism in the market for technological invention

Dushnitsky G

Organization Science 2010 Jan/Feb Vol 21:1 p 150-167

How alliance formation shapes corporate venture capital investment in the software industry: A resource-based perspective

Dushnitsky G; Lavie D

Strategic Entrepreneurship Journal 2010 Vol 4:1 p 22-48

2009

Limitations to inter-organizational knowledge acquisition: The paradox of corporate venture capital

Dushnitsky G; Shaver J M

Strategic Management Journal 2009 Vol 30:10 p 1045-1064

2006

Corporate venture capital: Past evidence and future directions

Dushnitsky G

In Oxford Handbook of Entrepreneurship, Casson, Yeung, Basu and Wadeson (eds.) Oxford University Press, Oxford

Corporate venturing

Dushnitsky G

In Palgrave Dictionary of Strategic Management, Augier M and Teece T (eds.)

Corporate Venturing

Dushnitsky G

In Palgrave Dictionary of Strategic Management, edited by M. Augier and D. Teece.

What inventions do corporate entrepreneurship programs gain access to?

Dushnitsky G; Shaver J M

in Handbook of Corporate Entrepreneurship, Zahra, S (ed.). Elger, UK.

When does corporate venture capital investment create firm value?

Dushnitsky G; Lenox M J

Journal of Business Venturing 2006 Vol 21:6 p 753-772

2005

Corporate venture capital and incumbent firm innovation rates

Dushnitsky G; Lenox M J

Research Policy 2005 Vol 34:5 p 615-639

When do firms undertake R&D by investing in new ventures?

Dushnitsky G; Lenox M J

Strategic Management Journal 2005 Vol 26:10 p 947-965

2017

Badge of honor or scarlet letter? : unpacking Investors' judgment of entrepreneurs' past failure

Zunino D; van Praag M; Dushnitsky G

CEPR Discussion Paper


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