Kiran Mazumdar-Shaw

Kiran Mazumdar-Shaw (born 23 March 1953) is an Indian entrepreneur. She is the chairman and managing director of Biocon Limited, a biotechnology company based in Bangalore (Bengaluru), India and the chairperson of IIM-Bangalore. In 2014, she was awarded the Othmer Gold Medal, for outstanding contributions to the progress of science and chemistry. She is on the Financial Times’ top 50 women in business list. As of 2015, she was listed as the 85th most powerful woman in the world by Forbes. In 2016, she has been listed one more time in Forbes—the most powerful woman in the world at 77th position.

Childhood & Early Life

· Kiran Mazumdar was born to Gujarati parents in Bangalore, India. She went to school at Bangalore's Bishop Cotton Girl's High School, graduating in 1968. She then attended Mount Carmel College, Bangalore, a women's college offering pre-university courses as an affiliate of Bangalore University. She studied biology and zoology, graduating from Bangalore University with a bachelor's degree in Zoology in 1973. Mazumdar hoped to go to medical school, but did not obtain a scholarship.

· Her father, Rasendra Mazumdar, was the head brewmaster at United Breweries. He suggested that she study fermentation science, and train to be a brewmaster, a very non-traditional field for a woman. Mazumdar went to Federation University (Formerly known as University of Ballarat) in Australia to study Malting and Brewing. In 1974 she was the only woman enrolled in the brewing course, and the top of her class. She earned the degree of master brewer in 1975.

· She worked as a trainee brewer in Carlton and United Breweries, Melbourne and as a trainee maltster at Barrett Brothers and Burston, Australia. She also worked for some time as a technical consultant at Jupiter Breweries Limited, Calcutta and as a technical manager at Standard Maltings Corporation, Baroda between 1975 and 1977. However, when she investigated the possibility of further work in Bangalore or Delhi, she was told that she would not be hired as a master brewer in India because "It's a man's work." She began to look abroad, and was offered a position in Scotland.

Career

· Before Mazumdar could move, she met Leslie Auchincloss, founder of Biocon Biochemicals Limited, of Cork, Ireland. Auchincloss's company produced enzymes for use in the brewing, food-packaging and textile industries. Auchincloss was looking for an Indian entrepreneur to help establish an Indian subsidiary. Mazumdar agreed to undertake the job on the condition that if she did not wish to continue after six months she would be guaranteed a brewmaster's position comparable to the one she was giving up.

· After a brief period as a trainee manager at Biocon Biochemicals Limited, of Cork, Ireland, to learn more about the business, Kiran Mazumdar Shaw returned to India. She started Biocon India in 1978 in the garage of her rented house in Bengaluru with a seed capital of Rs. 10,000. Although it was a joint venture, Indian laws restricted foreign ownership to 30% of the company. The remaining 70% belonged to Kiran Mazumdar Shaw.

· Mazumdar spearheaded Biocon's evolution from an industrial enzymes manufacturing company to a fully integrated bio-pharmaceutical company with a well-balanced business portfolio of products and a research focus on diabetes, oncology and auto-immune diseases.

· Mazumdar is responsible for establishing Biocon's direction. As early as 1984, she began to develop a research and development team at Biocon, focusing on discovery of novel enzymes and on development of novel techniques for solid substrate fermentationtechnology.

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Major Work

· Mazumdar-Shaw's belief in "affordable innovation" has been a driving philosophy behind Biocon's expansion. Inspired by the need for affordable drugs in less-wealthy countries, she has looked for opportunities to develop cost-effective techniques and lower-cost alternatives. She has also proposed that drug companies be cost-sensitive in marketing to developing countries, so that people can afford the drugs they need, particularly chronic therapies.

· Mazumdar-Shaw noticed the market potential for statins (cholesterol fighting drugs) early on. When the patent of the cholesterol-lowering drug lovastatin expired in 2001, Biocon got involved in its development. Then they expanded to other forms of statins. Part of her strategy was to enter into long-term supply contracts, establishing a dependable market base over time. Statins soon accounted for over 50 per cent of the company's revenue. The company’s revenue went up from Rs. 70 crore in 1998, to Rs. 500 crore in 2004 when it went public.

· In 2004, Mazumdar-Shaw started a corporate social responsibility wing at Biocon, the Biocon Foundation. The Foundation focuses on the areas of health, education and infrastructure, especially in rural areas of Karnataka which lack healthcare facilities.

· India does not have organized health care programs such as socialised medicine or government-backed health insurance. Rural areas may have only one doctor for every two thousand people: it is estimated that 70 million people do not have the money to pay for a doctor's visit or for medicine. The Biocon Foundation is involved in numerous health and education outreach programs to benefit the economically weaker sections of Indian society.

Awards & Achievements

· As of 2010, Mazumdar-Shaw was named among TIME magazine's 100 most influential people in the world. She is on the 2011 Financial Times’ top 50 women in business list. As of 2014, she was listed as the 92nd most powerful woman in the world by Forbes. In 2015, she had risen to 85th in the Forbes ranking. She was voted global Indian of the year by Pharma Leaders Magazine in 2012.

· Her work in the biotechnology sector has earned her numerous national awards, including the Padma Shri (1989) and the Padma Bhushan (2005) from the government of India. She was given the Economic Times Award for 'Businesswoman of the Year' in 2004. At the Pharmaleaders Pharmaceutical Leadership Summit she was named "Global Indian Woman of the Year" (2012); she also received the Express Pharmaceutical Leadership Summit Award for "Dynamic Entrepreneur" in 2009.

· The Indian Merchants' Chamber Diamond Jubilee Endowment Trust's Eminent Businessperson of the Year Award was presented to Kiran Mazumdar-Shaw in 2006 by the Governor of Maharashtra, S. M. Krishna. She also has received the Indian Chamber of Commerce Lifetime Achievement Award (2005), the 'Corporate Leadership Award' by the American India Foundation (2005). and the Karnataka Rajyotsava Award (2002).

· Mazumdar-Shaw received an honorary doctorate from her alma mater, Ballarat Universityin 2004, in recognition of her contributions to biotechnology. She has been awarded honorary doctorates from the University of Abertay, Dundee, UK (2007), the University of Glasgow, UK (2008), Heriot-Watt University, Edinburgh, UK (2008) and University College Cork, Ireland (2012). She received an honorary doctorate from Davangere University, India, at its first convocation, July 2013, in recognition of her contribution in the field of biotechnology.

Personal Life & Legacy

· With Devi Shetty of Narayana Hrudayalaya Hospital, Mazumdar-Shaw has supported the development of Arogya Raksha Yojana (Disease Protection Program/Health Help). Through this program Biocon Foundation establishes clinics to offer clinical care, generic medicines and basic tests for those who cannot afford them.

· In collaboration with McMillan India Limited and teacher Prathima Rao, Mazumdar-Shaw has supported development and use of a basic mathematics textbook, introduced in Kannada schools in 2006.

· She funded a multi-year research program by creating the Biocon Cell for Innovation Management with Prasad Kaipa at the Indian School of Business in 2009.

· Mazumdar-Shaw is a member of the board of governors of the Indian School of Business and a past member of the board of governors of the Indian Institute of Technology Hyderabad.