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.

[8] Deshpande knew Peter Brackett PhD, a professor of electrical engineering at Queen's university in Ontario for a few years in between industry positions.

[10] He is also Chairman of A123Systems,[11] which manufactures 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.

[12] In December 2010, the Deshpandes gave a $5 million pilot grant to start the Merrimack Valley Sandbox (later renamed to Entrepreneurship for All (EforAll®)) in Lowell and Lawrence, Massachusetts.

In September 2011, the Deshpande Foundation gave $2.5 million to the University of New Brunswick to launch the Pond-Deshpande Centre for Innovation and Entrepreneurship (PDC).

Since its inception, the Pond-Deshpande Centre has worked with hundreds of emerging entrepreneurs in Atlantic Canada through early-stage innovation grants, mentorship, new venture acceleration and the hosting of multiple conferences bringing thought leaders together from across North America.

Its mission is to catalyze entrepreneurial mindsets and fostering a culture of innovation across Queen's University, the Kingston community, and globally.