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David M. Townsend

Associate Professor
Headshot of David Townsend
2090 Pamplin (0233)
880 West Campus Drive
Blacksburg, VA 24061

Academic Area(s)

Entrepreneurship, Strategic Management, Technology Management

Research and Teaching Interests

My research focuses on capital acquisition processes including crowdfunding, angel investments, and venture capital. I also conduct research on growth strategies, organizational development, and CEO decision-making in technology-oriented companies. I maintain an active publishing stream in most of the top entrepreneurship and management academic journals and my research has been highlighted in business-oriented press outlets such as New York, BusinessWeek, TechCrunch, TechJournal South, BizEd among many others.

Based on lessons learned from both my research and prior service in several entrepreneurial ventures, I teach a variety of courses in strategy, entrepreneurship, innovation management, and data analytics.


  • Ph.D. Price College of Business, University of Oklahoma, 2008
  • M.Mgt. Oral Roberts University, 2004
  • B.A. Oral Roberts University, 1998

Selected Publications

Townsend, D.M. & Busenitz, L.W. 2014. Turning water into wine? Exploring the role of dynamic capabilities in early-stage capitalization processes. Journal of Business Venturing, In Press.

Townsend, D.M., Mitchell, J.R., Busenitz, L.W., & Mitchell, R.K. 2014. The eclipse and new dawn of individual differences research. Routledge Companion on Entrepreneurship, (Frederike Welter & Ted Baker, eds.), In Press.

Haines, H. & Townsend, D.M. 2013. Self-doubt and entrepreneurial persistence: How founders of high-growth ventures transform negative mental states to overcome self-doubt and persist with their ventures. In Andrew C. Corbett, Jerome A. Katz (eds.) Entrepreneurial Resourcefulness: Competing with Constraints (Advances in Entrepreneurship, Firm Emergence, and Growth, Volume 15) , Emerald Group Publishing Limited, pp. 94-124.

Townsend, D.M. 2012. Captains of their own destiny? Towards a theory of entrepreneurial agency in firm survival. Advances in Entrepreneurship, Firm Emergence, and Growth: Entrepreneurial Action Vol. 14. (Jerry Katz and Andrew Corbett, eds.), Emerald Group Publishing Limited, pp.125-160.

Townsend, D.M., Busenitz, L.W., & Arthurs, J.D. 2010. To start or not to start? Ability and outcome expectations in the decision to start to a new entrepreneurial venture. Journal of Business Venturing, 25(2): 192-202.

Mitchell, J.R., Hart, T.A., Valcea, S., Townsend, D.M., 2009. Becoming the Boss: Discretion and post-succession success in family firms. Entrepreneurship Theory and Practice, 33(6): 1201-1218.

Townsend, D.M. & Busenitz, L.W. 2008. Factor payments, resource-based bargaining, and the creation of firm wealth in technology-based ventures. Strategic Entrepreneurship Journal, 2(4): 339-355.

Townsend, D.M. & Hart, T.A. 2008. Perceived institutional ambiguity and the choice of organizational form in social entrepreneurial ventures. Entrepreneurship Theory and Practice, 32(4): 685-700.

Positions Held

2014 - Present: Assistant Professor, Department of Management, Virginia Tech

2008 - 2011, 2012 - 2014: Assistant Professor/Visiting Assistant Professor, Department of Management, Innovation, and Entrepreneurship, North Carolina State University

2011 - 2012: Assistant Professor, Management & Entrepreneurship Division, The University of Oklahoma

Selected Honors and Awards

  • 2012 Best Social Entrepreneurship Paper Award – Academy of Management
  • Outstanding Reviewer Award, Journal of Business Venturing: 2010 & 2011.