Frost received his Ph.D. from MIT's Sloan School of Management. His thesis "The Geographic Sources of Innovation in the Multinational Enterprise" received the inaugural Gunnar Hedlund Award for the best doctoral dissertation in international business. Before earning his Ph.D., Frost completed the first year of Sloan's MBA program and worked as an intern at Microsoft Corp. in Redmond, Washington. His undergraduate degree (BComm) is from the University of British Columbia.