Kiran Mazumdar-Shaw Profile

$250, a garage space and no financial backing – one would hardly regard these as strong foundations for starting an entrepreneurial venture. Not only did Kiran Mazumdar-Shaw prove that these foundations are not exactly shaky if one has the determination and hard work to launch a business, but she went on to build Biocon Ltd -a biotechnological empire - on those very foundations. What’s more, she started her venture in India, where girls are under great pressure to get married early and become homemakers and not take up jobs, least of all become independent businesswomen. Also, quite unlike what was expected of women, Kiran put forth her views in a forthright manner with no diplomatic hints. Her no-nonsense attitude and outspoken views have made a positive impact on bureaucrats, colleagues and staff alike.

It was to Kiran’s advantage that she got the immense support of her family with no insistence on a quick early marriage. Her father emphatically told her that she could get a good spouse anytime, but should never lose out on the opportunity to follow a good career especially with her great educational background. Kiran did her schooling at the Bishop Cotton Girls School and then attended Mount Carmel College, Bangalore. She also earned a graduate honours degree in Zoology from Bangalore University. She had a keen interest in brewing, her father being the chief brewmaster in United Breweries. To pursue her interest, Kiran decided to enrol for the Malting and Brewing Technology program at the University of Ballarat, Australia. On successfully becoming a brewmaster, Kiran worked as a trainee brewer in Carlton & United Beverages for four years.

Unfortunately, despite her high skills and educational background, back in India Kiran was unable to get any job opportunities as the sector was predominantly for men. Finding no success as a consultant, she returned to UK to work as a Trainee Manager with Biocon Biochemicals Limited in Ireland. Leslie Auchincloss, the owner, put forth a proposal to set up a business in India. Kiran was excited at the idea and without a second thought agreed to set up India’s first biotechnology company. Named Biocon, Kiran would have an equity stake of 70% while Leslie would have 30%. The initial idea was to extract enzyme from papaya and export it to Ireland.

One of the first steps Kiran took was to set up an office in a small garage and advertise for staff. To her chagrin, she found that instead of interviewing people, she was being interviewed by them! Few liked the idea of working for a woman, that too one who was so young (she was 25). Even more difficult was getting capital to begin the venture. Although there were government schemes for funding small scale industries, Kiran was time and again turned away from banks unwilling to give a loan to a woman with a risky venture in an unheard of field. She did eventually get a financial backer, but it took years before Kiran’s skills and vision got the company to its peak. When it eventually did, Biocon stormed the world, having grown from a small company producing industrial enzymes to a mammoth biopharmaceutical company which ventured into innovative research programs. From a $250 start-up company to a $1 billion venture, Biocon Ltd. has made a huge impact on the lives of ordinary people.

Under the mentorship of Kiran, the company focuses on insulin, antibodies and cancer vaccines with the aim to create drugs which are affordable especially to the poor of India. When TIME magazine named Kiran in its annual list of the 100 most influential people in the world, cyclist Lance Armstrong wrote "Thank you, Dr. Shaw, for treating cancer like the global crisis it has become." Kiran is a true philanthropist, donating about $2 million towards health insurance coverage for villagers in India. She also provided $10 million as funds to set up the Mazumdar-Shaw Cancer Centre in Bangalore; it will provide free treatment to poor patients. In fact, Kiran featured in Forbes magazine's list of Asia's top philanthropists.

On the personal front, Kiran’s hectic work schedule gives her little time for indulging in her favourite recreational activities – visiting art galleries (she is an avid art collector), playing golf, listening to classical music, snorkelling and watching sports. She hits the treadmill, swims and does yoga routines to keep fit, maintaining a healthy diet while at home in Bangalore with her Scotsman husband John Shaw, who is the Vice-Chairman of her company. Once she enters the corporate world, though, all those routines and diets go for a toss!

As a boss, Kiran commands a good deal of respect, as a result of which the aspect of gender never arises. Her competence, self-assurance and practical no-nonsense attitude has created a sense of goodwill amongst her employees and she has never had to face the labour problems which most companies have to deal with today. Moreover, Kiran has gained the faith of her investors by giving them good returns. As she said in an interview, "I think today I can look back and say I've certainly proved that I am not a risk prone investment."

Some Major Awards & Honours

*  Institute of Marketing Management’s Gold medal for Best Woman Entrepreneur (1982)

*  Rotary award for the Best Model Employer (1983)

*  Padma Shri (1989)

*  Ernst & Young Entrepreneur of the Year Award in Healthcare & Life Sciences Category (2002)

*  Australian Alumni High Achiever Award from the IDP Australian Alumni Association (2003)

*  The Economic Times Business Woman of the Year Award (2004)

*  Honorary Doctorate of Science, from Ballarat University (2004)

*  Padma Bhushan (2005)

*  Wharton Infosys Business Transformation Award (2006)