VMPL
New Delhi [India], June 10: Prashanth Prakash, a name synonymous with India's startup success story, has been conferred the Padma Shri-India's fourth highest civilian honour-in the Trade and Industry category. As a Founding Partner at Accel India, his influence extends far beyond providing capital, to shaping the foundation of the nation's technological and social progress.
Among his many accolades is his role in shaping the "Startup Mahakumbh" held at the Bharat Mandapam, New Delhi. As a key architect and facilitator of two Startup Mahakumbh editions, his strategic vision and hands-on leadership helped the 2025 edition attract 2.3 lakh visitors and 2,923 startups, transforming it into a global innovation platform that nurtures collaboration among entrepreneurs, investors, and policymakers, and amplifies India's entrepreneurial spirit.
From Engineer's Desk to Ecosystem Architect
Prakash's distinguished career didn't begin in the polished boardrooms of venture capital, but in hands-on technology development. His very first job as a software engineer involved crafting user interfaces for simulators vital to training operators at nuclear power plants. At a time when specialised product management roles were virtually non-existent, this experience helped cultivate both technical implementation skills and an appreciation of the user's perspective.
His return to India in the mid-90s marked the start of his entrepreneurial journey. In 1995, he founded Visual Reality, one of India's earliest animation companies, showcasing his ability to discern and capitalise on emerging trends. This was swiftly followed by the co-founding of NetKraft in 1997. The company garnered recognition as one of India's pioneering internet-based companies. By actively participating in and shaping these nascent industries, Prakash contributed significantly to the ecosystem he would later nurture and empower as an investor.
Advancing India's Venture Capital Ecosystem
Prakash's formal entry into the venture capital landscape was in 2004 with the co-founding of Erasmic Ventures. Quickly distinguishing itself as one of India's earliest seed funds, the initiative invested in Indian technology startups long before many of them gained global prominence. Erasmic Ventures later merged with global venture capital firm Accel and formed Accel India, where he assumed the critical role of a founding partner.
In collaboration with the Accel India founding team, he helped steer the strategic deployment of its USD 650 million fund to support startups focusing on cutting-edge areas such as Artificial Intelligence (AI), tech-led industrialisation, and the crucial 'Bharat' market, focusing on solutions catering specifically to India's tier 2 regions. He firmly believes in the "limitless headroom for entrepreneurs" in India, highlighting the vast opportunities for founders to innovate and build products for both domestic and global markets.
He has played a foundational role in backing and nurturing some of India's most successful and category-defining startups - many of which have since become household names. Notable investments and portfolio companies include industry giants like Flipkart, Ola, Freshworks, Swiggy, and BookMyShow, among a formidable list of over 35 Indian ventures. His extensive involvement in the startup ecosystem is further evidenced by his active participation on the boards of over 30 organizations. This expansive portfolio and numerous board seats, coupled with his strategic involvement across diverse sectors highlights his role not merely as an investor but as an active, hands-on ecosystem builder.
Beyond Business: Philanthropic Initiatives and Policy Contributions
Prakash's influence, however, extends far beyond the traditional confines of venture capital. His vision for nation-building is comprehensive and combines his professional acumen with a profound commitment to societal upliftment. With a multifaceted involvement in policy, education, and critical infrastructure, he demonstrates a holistic vision for national development that transcends mere economic growth.
As a member of the National Startup Advisory Council, Government of India, and Chairman of Karnataka's Vision Group for Startups, he acts as a crucial conduit between startups, government bodies, and investors. Under his leadership, the Vision Group has spearheaded transformative initiatives like Elevate and Unnati, and played an instrumental role in shaping key events like the Bengaluru Tech Summit. He believes technology and entrepreneurship can drive social change, reflecting his role as a civic-minded leader committed to India's development.
His latest initiative, the UnboxingBLR Foundation, is a city-centric platform that documents Bengaluru's evolution into India's tech and startup hub and helps citizens and visitors engage with and improve its livability. This visionary project straddles a range of initiatives, including a contemporary biography of Bengaluru co-authored by Prakash himself; the Namma Bengaluru Challenge, an annual grants program connecting startups and NGOs working for the city, with local causes; Hasiru Bengaluru, an urban forestry initiative; a forthcoming documentary series capturing the city's essence; and the BLR Hubba, an ambitious city-wide 10-day festival aspiring to become India's largest cultural celebration. The foundation also anchors India's first startup, tech, and innovation museum, which will further cement Bengaluru's positioning as a global innovation hub.
Prakash's philanthropic footprint is expansive and deeply impactful, reflecting his belief in leveraging venture capital principles for social good. As Chairman of the Sikshana Foundation since 2007, he has championed transformative initiatives like 'Prerana 2.0,' which has improved learning levels for over 3 million students across 50,000 government schools in Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Maharashtra, and Gujarat. His support for the 'Born Learning' program addresses the crucial developmental needs of preschool children in Anganwadis, in alignment with the National Education Policy's recognition of early childhood education. This pragmatic approach to social good - emphasizing scalable and impactful solutions - directly mirrors his professional ethos.
Another area he is deeply committed to is environmental conservation. As Chairperson of United Way of Bengaluru (UWBe), a global social organization, he has spearheaded the highly successful 'Wake the Lake' campaign, which has already rejuvenated over 35 lakes across the country. A keen wildlife conservation enthusiast, he notably co-produced the award-winning documentary film "Wild Karnataka," narrated by the legendary Sir David Attenborough. Furthermore, his involvement with the Krishi Kalpa Foundation focuses on efforts to increase incomes and livelihood opportunities for small and marginal farmers, showcasing his commitment to sustainable agricultural development. He also co-founded ACT Grants (Action Covid Taskforce) mobilising a significant fund to address critical needs during the pandemic, underscoring his rapid response to national challenges.
A Legacy Beyond the Numbers
The Padma Shri award to Prakash acknowledges the growing importance of India's startup ecosystem and the people who have helped build it. It highlights his role not only as an investor but also as a contributor to the country's broader development.
Prashanth Prakash is known for his contributions to India's digital landscape, his involvement in philanthropic projects, and his support for social initiatives. His career demonstrates how long-term vision and a commitment to community can strengthen both businesses and society.
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