Dr. Kiran-Mazumdar Shaw: India ‘coincidental businessman’ who created a biotech giant

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“Entrepreneur by coincidence” describes herself as Dr. Kiran Mazumdar-Shaw, pioneer of the Indian biotechnology industry, who was named EY World Entrepreneur Of The Year ™ in 2020.

The Executive Chairman of Biocon Limited and EY Entrepreneur Of The YearΤΜ 2019 of India, managed to be characterized by Time magazine as one of the most influential people in the world, being a model for women entrepreneurship.

Her original plan was to pursue a career in the brewing industry, but she soon realized that no such company in India wanted to hire a woman.

But a chance encounter with an Irish biotech entrepreneur was about to change her life. He suggested that they work together, with the aim of establishing a biotechnology company in India, to study and produce enzymes. So she started her business trip in 1978, founding Biocon, for just $ 500.

Of course, the path that followed was not easy. Taking her first steps, she saw that banks were reluctant to lend a woman, many did not want to work for her and almost everyone around her was worried about her new venture, as biotechnology was an unknown industry at the time.

“There is a lot of perception that women do not take risks. We are not ambitious. We do not make long-term and big plans. We are not active. I think these are all myths. And I think we need to dispel these myths. Why women take risk, they are ambitious, they have great ideas “she has pointed out, when she was asked to give advice to women who are starting their” path “in business today.

Today, 43 years later, Biocon is one of the largest biotechnology companies in Asia, with more than 11,000 employees and customers in over 120 countries. Under the leadership of Dr. Mazumdar-Shaw, Biocon is a strong leader in research and development in India, developing and producing biotechnology products for the treatment of chronic diseases such as diabetes, while leading the global effort to provide affordable insulin, third of its current price.

An advocate of “compassionate” capitalism, Dr. Kiran Mazumdar-Shaw has a strong social stance as a member of the Giving Pledge initiative, committing to donating most of her fortune to charity.

But what has he learned over the years? “I always say that failure is temporary, but giving up is permanent. So do not give up so easily. It is not easy to succeed the first time. You will encounter failures, but these are the ones that ultimately lead to success. You have to face it. failure, to learn from it and gradually reach success “she has noted in interviews.

It is reminded that, in our country, the EY competition, Greek “Entrepreneur of the Year” 2021, is in progress. The winner of the national competition will have the opportunity to represent Greece in the institution EY World Entrepreneur Of The YearTM 2022, scheduled to take place in Monte Carlo in June 2022.

Source From: Capital

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