Mumbai, April 09, 2025 – The Indian STEP and Business Incubator Association (ISBA) has ushered in a new era of leadership with the announcement of its freshly constituted Governing Board. Tasked with steering the organization’s efforts to strengthen India’s startup and incubation landscape, the appointees bring a potent mix of experience and innovation to the table.
Leading the charge as president of ISBA is Mr. Prasad Menon, a global business leader with over two decades of experience across FMCG, retail, and technology on three continents who currently serves as CEO of the Centre for Incubation and Business Acceleration (CIBA) in Mumbai. Having held notable roles as CMO for prestigious brands before transitioning to leading innovation and entrepreneurship, his tenure at CIBA has been marked by a focus on scalable incubation models, making him a natural fit to guide ISBA’s national ambitions. Prasad has also been actively training incubation managers and CEOs of incubators and continues to inspire as a respected educator and passionate mentor to emerging incubators and startups.
Joining him as vice president is Mr. Prasad Shetty, a seasoned expert in incubation, investment, innovation, and the startup ecosystem, with nearly two decades of experience. He currently leads investment and operations at SINE–IIT Bombay, one of India’s leading technology business incubators.
At SINE, Mr. Shetty has been instrumental in nurturing and scaling deep-tech, impact-driven startups across sectors such as AI/ML, CleanTech, MedTech, FinTech, EdTech, Energy, and more. With a strong background in finance and business management, he is known for effectively bridging investment, academia, and industry.
His leadership has fostered strategic partnerships, strengthened innovation pipelines, and supported early-stage ventures. His appointment brings renewed momentum to ISBA’s mission of advancing India’s incubator ecosystem.
Completing the leadership trio is Mr. Ramjee Pallela, Chief Operating Officer of AIC-CCMB (Atal Incubation Centre-Centre for Cellular and Molecular Biology), who steps into the role of Vice President alongside Shetty. With over a decade of experience in the incubation and innovation ecosystem, Pallela has been a driving force as an enabler, advisor, and mentor to hundreds of startups across India. His strengths extend beyond biotech innovation and operational strategy—where he excels at transforming scientific research into market-ready solutions—to include forging industry-academia partnerships, facilitating technology transfers, and connecting startups with investors and funding opportunities. His appointment underscores ISBA’s ambition to expand its influence in specialized sectors like biotechnology, bringing a seasoned perspective to the board.
The new board’s formation comes at a pivotal moment for India’s startup ecosystem, which continues to grow at a breakneck pace. Sources close to ISBA say the trio’s collective vision—empowering incubators, accelerating startups, and fostering inclusive growth—could redefine how the organization supports the country’s entrepreneurial talent.
Menon’s strategic foresight, Shetty’s tech prowess, and Pallela’s operational grit could make ISBA a linchpin in India’s innovation story.
The appointees inherit an organization with a robust legacy. Founded in 2004, ISBA has grown into India’s only pan-India network of Science and Technology Entrepreneur Parks (STEPs) and Technology Business Incubators (TBIs), boasting over 130 incubators and accelerators. It’s a platform that thrives on collaboration, offering incubators a space to swap ideas, share resources, and advocate for policies that fuel entrepreneurship. Insiders say the new board is keen to build on this foundation, potentially rolling out initiatives to connect rural innovators with urban markets.
For now, the spotlight is on Menon, Shetty, and Pallela as they settle into their roles. If their past achievements are any indication, ISBA—and India’s startup community—could be in for a transformative ride.
