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Nashua 20/20: Kedar Gupta, finding success and gaining attention through startups

By Staff | Dec 31, 2013

He co-founded Merrimack-based GT Advanced Technologies, formerly GT Solar, in 1994 with a $1,000 investment. GTAT is now a $500 million, publicly traded company.

In 2008, he founded ARC Energy, a Nashua renewable energy company that developed a less expensive way to grow crystals for energy-efficient LED lights. The company drew a visit from President Barack Obama in 2010, earning praise from the chief commander.

Now, Kedar Gupta is poised to announce the acquisition of a new technology to clean water and the environment, which he said will bring even more jobs to the Nashua region.

“Till the last day I’ll be dying, I’ll be trying to start up a new company,” he said.

Gupta, 66, a native of India who moved to the United States for graduate school, said he’s proud of GTATs role in the solar revolution (he retired as CEO in 2006 but was involved in the company until shortly after it went public 2008) and grateful for his success. Yet, he remains humble, shying away from public accolades and praise more often these days.

“I am grateful and I’m humbled and I’m honored,“ he said. “Don’t make me a superman. I’m not. We are very simple people. In my young age, I allowed it because it was good for the company.”

Gupta said “we” referring to his close-knit family. At the center of that family is his wife, Renu, who has supported and worked alongside him through every new business venture. She’s been an active employee, handling financial issues and setting long-term goals, Gupta said.

“She has been with me for every startup,” he said. “She took all the beating and I benefitted. She’s a pretty strong lady. She is the leader of the family.”

The couple has two adult children, a daughter named Ritu Gupta Ullal, who is a family physician at Dartmouth-Hitchcock Medical Center in Nashua, and a son named Rohit Gupta, a director at Techstars Boston, an organization that helps jump start young entrepreneurs. Both children are graduates of Massachusetts Institute of Technology.

There are two grandchildren thus far, and Gupta said he’s hoping for more.

Collectively, the family does a lot of charity work focused on education. They are big supporters of Pratham, an organization that works to provide quality education to underprivileged children in India. They also sponsor scholarships at various universities.

“My passion is, how do I help others to become an entrepreneur?” Gupta said.

Gupta himself is highly educated. He holds master’s and doctorate degrees from State University of New York at Stony Brook and an MBA from Lindenwood University in St. Charles, Mo.