Nearly 35 years after she set out with Rs.10,000 and a business plan, Kiran Mazumdar Shaw is counted among India’s most influential women. The chairman and managing director of Biocon, India’s premier bio-pharmaceuticals company, Kiran Mazumdar Shaw shares her recipe of success. The role model states the importance of philanthropy, especially in India, where people need to be sensitive and caring about the poorer, more disadvantaged
sections of our country. Money is not a currency to buy favours with, but a currency with which you can make a difference, is a principle that she holds very close to her heart. Watch and learn!
‘‘Recently, my six-year-old nephew Eric, who lives in Purdue, sent me a picture of a pot of gold. It was part of a school assignment in which students were asked what they would do with a pot of gold. Eric wrote he would give the gold to me so that I can make medicine to cure diseases. I have kept the picture under my desk; it empowers me every day.”
“I set up Biocon in 1978 with a focus on manufacturing enzymes. Over the next two decades, I devoted my time to developing, marketing and selling enzymes. In the mid- 1990s I decided that sticking to a speciality was going to be self-limiting, since we were catering to a niche market. I realised that no matter how big our market share was in India, just by sticking to the enzymes business, Biocon would not become big globally. I had to reinvent myself, and decided to move into bio-pharmaceuticals.”
Going big, going global
“Though there were some similarities in the enzymes and bio-pharmaceuticals businesses, the markets and customers I was addressing for the latter were different. I had to run the bio-pharmaceuticals business on a much bigger scale. We did whatever was required to make it big. As a result, our business, which was worth $25 million till 1998, quadrupled to $100 million in the next six years.”
“The most significant moment for Biocon came on April 7, 2004-the day we went public and closed at $1.11 billion on the National Stock Exchange. Imagine a small entrepreneurial company suddenly creating $1 billion worth of value! Suddenly, India was on the world stage and we were being recognised globally.”
Paving the way for a new breed of entrepreneurs
“With the success of Biocon came tags like ‘India’s richest woman’, but for me it showed that ordinary people could build something extraordinary. Earlier, the only people who could build businesses this large were those with money and connections. Biocon’s success story gave hope to entrepreneurs not only in the bio-pharmaceutical space, but outside of it too. I believe Biocon and Infosys paved the way for a new breed of entrepreneurs in India.”
Giving back to the world
“For me Biocon’s success also translated into considerable personal wealth. I had to take a decision on what I wanted to do with this wealth-splurge on myself or give back to society? I decided to set up the Biocon Foundation in the same year.”
“Today, most of the foundation is funded by me. Since we are in healthcare and believe that philanthropy must be sustainable, we thought we could make an impact on rural healthcare. I don’t believe in charity where you merely hand things out. So we began the Arogya Raksha Yojana, a micro health insurance plan in rural Karnataka, through which people from the low income bracket can avail of cashless hospitalisation by paying Rs.10 for the scheme.”
#KiranMazumdarShawInterview #WomenEntrepreneursInIndia #UpClose
Follow Femina on
Facebook: / feminawoman
Twitter: / feminaindia
Instagram: / feminaindia
Make sure to SUBSCRIBE to Femina India ► / feminatv
LIKE, COMMENT, AND SHARE this video for more!
FIND US ON:
Website ►www.femina.in/
Twitter ► / feminaindia
Facebook ► / feminawoman
Instagram ► / feminaindia
ABOUT FEMINA INDIA:
Femina is all about YOU! We take your interests very seriously, which is why have you covered -fashion, beauty, celebrities, health, fitness, relationships, career, food, books, movies, inspiring stories of real women and achievers, you’ll find everything you need to keep on top of things. Make Femina your one-stop destination for all that’s buzzing and exciting.
HEAD OVER TO A FEW OTHER CHANNELS:
Grazia India ► / graziaindia
Filmfare Official ► • 5 yesteryear actresses...
Hello India ► / hellomagindia
GoodHomes India► / @goodhomesindia5088