Prashanth Prakash, a founding partner of the U.S.-based venture capital firm Accel, has been conferred with the Padma Shri, India’s fourth-highest civilian award. This honour acknowledges his influential role in India’s startup ecosystem and his contributions to trade and industry.
Prakash, an alumnus of Bangalore University with a master’s degree in computer science from the University of Delaware, began his entrepreneurial journey in 1995 by founding the animation company Visual Reality.
He later co-founded the IT services company NetKraft and, in 2004, launched the seed-stage fund Erasmic Venture, which eventually led him to Accel.
Venture capital success and industry impact
Over the years, Prakash has fostered a thriving startup culture by making strategic investments in companies such as Flipkart, Swiggy, BookMyShow, Infra.Market, Bluestone, Freshworks, Zetwerk and Urban Company.
His portfolio also extends to BookMyShow, CleverTap, FabHotels and RentoMojo. By identifying and nurturing innovative ventures, he has helped position India as a global hub for entrepreneurship and innovation.
Advisor and philanthropist
Prakash’s influence extends beyond the corporate world. He has served as an advisor to former Karnataka Chief Minister B.S. Yediyurappa, offering guidance on policies to promote innovation, entrepreneurship and sustainable development.
His philanthropic efforts focus on creating scalable solutions for education, healthcare, agriculture, climate action and urban infrastructure.
He works closely with organizations such as ACT Grants, Unboxing BLR Foundation and Sikshana Foundation, reflecting his commitment to bridging entrepreneurship and social impact.
Other Padma Shri recipients from Karnataka
Prakash was among nine distinguished individuals from Karnataka to receive Padma awards. They include violin maestro L. Subramaniam, Kannada cinema veteran Anant Nag, puppetry artist Bheemavva Doddabalappa Shillekyatara, cinema artist Hassan Raghu, Grammy-winning musician Ricky Kej, folk artist Venkappa Ambaji Sugatekar, medical professional Vijayalakshmi Deshamane and journalist A. Surya Prakash.