It was her failure to get a job as brew master that led Kiran Mazumdar-Shaw to pioneer the biotech industry in India and thus build a world-class company that set her on the path to great success. She started Biocon in 1978 when she was just 25-years-old, with an investment of ₹10,000, to manufacture enzymes. Bold bets like transforming the business model to foray into pharmaceuticals and making early progress in R&D that paid off for the company saw her transform Biocon into a multi-billion dollar organisation. Still calling herself the biggest risk-taker in the company, Shaw says it is essential for entrepreneurs to continue taking calculated risks and understand what the value-creation potential of a business is all about. Her advice to budding entrepreneurs is to resist the temptation of selling out and to set their sights higher up as she believes scaling up is the only way one can unleash the true potential of a business.
Read more in our issue dated October 14, 2016. Issue out on stands on September 30, 2016