Dr Goel is an active private venture investor. He is actively involved in renewable energy projects – solar and hydro – in Europe and India . He has served on the Boards of four cloud computing companies – FusionOps Inc, QuanticMind, PowWow Mobile, and Punchh. He has served on the Board of Directors of many private companies and two public companies (SYNP and CDNS on NASDAQ).

The Foundation for Excellence was founded by Dr. Goel and his wife, Poonam, in 1994. After selling his first company, Prabhu Goel and his wife Poonam Goel decided to use part of the proceeds to build a philanthropic foundation to provide scholarships to bright students with financial constraints for college degrees. The initial focus was on medical and engineering degrees in India, because these professional degrees assure a high likelihood of transforming the lives of the bright students