Gururaj Deshpande
| Gururaj Deshpande ಗುರುರಾಜ್ ದೇಶಪಾಂಡೆ |
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|---|---|
| Born | Hubli, Karnataka, India |
| Residence | Chelmsford, Massachusetts |
| Alma mater | IIT Madras Queen's University |
| Occupation | Chairman of Sycamore Networks, Sandstone Capital, A123 Systems, HiveFire, Tejas Networks |
| Religion | Hindu |
| Spouse(s) | Jayshree Deshpande |
| Website | |
| sycamorenet.com Deshpande foundation.org |
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Gururaj Deshpande ("Desh" Deshpande) is an Indian American venture capitalist and entrepreneur, who is best known for co-founding the Chelmsford, MA-based internet equipment manufacturer Sycamore Networks,[1] the Deshpande Center for Technological Innovation at MIT and the Deshpande Foundation.[2]
Presently, Deshpande is the Chairman of A123Systems, Sycamore Networks, Tejas Networks, HiveFire, Sandstone Capital, Sparta Group,[3] and sits on the Board of Airvana.[1][4]
Deshpande is also a Life Member of the MIT Corporation, the Board of Trustees of MIT.[5]
In July 2010, Deshpande was appointed by President Barack Obama to the Co-Chairmanship of the National Advisory Council on Innovation and Entrepreneurship, a group established to support the US President's innovation strategy.[3][6]
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Early life and education [edit]
Gururaj Deshpande was born in Hubli, Karnataka. His father was a labor commissioner with the Indian government.[7]
He graduated with a Bachelors of Technology in Electrical Engineering from the Indian Institute of Technology, Madras. He completed his Ph.D. in Data Communications from Faculty of Engineering & Applied Science at Queen's University in Ontario, Canada.
Career [edit]
Deshpande started his career at Codex Corporation, a Motorola subsidiary located in Ontario, Canada which manufactured modems, before moving to the U.S. in 1984. Later, he co-founded Coral Networks, a router developer; in 1987, he sold the company for $15 million.[8]
In 1990, Deshpande co-founded Cascade Communications, whose products were important in routing the early internet, initially serving as its President and later Executive Vice President; he hired Dan Smith as CEO. He sold Cascade to Ascend Communications for $3.7 billion in 1997.[4]
Subsequently, with the help of MIT researchers, he launched Sycamore Networks in 1998. Sycamore Networks went public in October 1999, and raised a market cap of $18 billion. With his 21% shareholding in hand, this IPO made Deshpande one of the wealthiest self-made businessmen in the world. In 2000, he was featured on the Forbes 400 listing of Richest Americans.[8]
In 2000, he founded telecom equipment company, Tejas Networks, along with US-based ASG-Omni in Bangalore.[9]
He is also Chairman of A123Systems,[10] which manufacturers high-power lithium-ion batteries, which went on NASDAQ in October 2009, and raised $438 million and trading at a 50% premium on the day of listing.[4]
Philanthropy [edit]
Desh, along with his wife Jayashree, donated $20 million to launch the Deshpande Center for Technological Innovation (DCTI) at MIT.[11]
Personal life [edit]
He is married to Jayashree Deshpande née Kulkarni, who is the sister of Sudha Murthy (wife of Infosys founder Narayan Murthy) and Caltech astrophysicist Shrinivas Kulkarni. She is the co-founder of the Deshpande Center for Technological Innovation at MIT. The couple have two children and live in Chelmsford, Massachusetts[8][4]
References [edit]
- ^ a b Board of Directors Sycamore Networks website.
- ^ MIT. "Deshpande Center for Technological Innovation".
- ^ a b "Locke Announces National Advisory Council on Innovation and Entrepreneurship Members". United States Department of Commerce. July 13, 2010.
- ^ a b c d Mint (newspaper), The Wall Street Journal (December 18, 2009). "Gururaj Deshpande :The serial entrepreneur".
- ^ "Corporation Membership: Desh Deshpande HM". MIT Corporation website.
- ^ "Deshpande on Obama panel to support innovation strategy". siliconindia news. 20 July 2010,. Retrieved 20 July 2010.
- ^ Gururaj Deshpande - The billionaire next door
- ^ a b c "Deshpande, Gururaj, E. on Forbes 400". Forbes. 2000.
- ^ "Tejas Networks set to go on stream". Indian Express. July 26, 2000.
- ^ "Board of Directors". A123Systems website.
- ^ "MIT unveils new center supporting technological innovation in New England". Deshpande Center for Technological Innovation website. January 3, 2002.
