The story of Kiran's fight to build Biocon in India!

Hey there,

She was treated as an inferior. She couldn't get a job. She wasn't taken seriously.

Yet, this woman turned her Rs. 10,000 investment into a Rs. 30,000 Cr Biotech Empire!

Meet Kiran Mazumdar Shaw, the co-founder of Biocon, a leading biotech company in India. As a woman, Kiran encountered discouragement, loan rejections, and industry bias. Despite these challenges, she led Biocon to become:

1. The first biotech company to export to the USA and Europe.

2. The first biotech company to list on the Stock Market.

3. The second listed company to cross a Billion dollars in valuation on the first day.

So, how did her journey begin?

Education to Become a Brewmaster

Kiran, born into a Gujarati family, initially aspired to become a doctor. However, her father, a brewmaster at United Breweries, inspired her to pursue a similar path.

Consequently, she completed her bachelor's degree in Bangalore, followed by her master's in Australia, where she started her career as a trainee. Upon returning to India, she encountered significant discrimination since brewing was considered a "man's job.”

Journey to Start Her Own Company

Kiran primarily found roles as a trainee due to Industry discrimination. However, her potential and hard work did not go unnoticed, leading to a significant opportunity. The founder of Biocon Ireland proposed establishing Biocon India and sought a partner.

Because of the laws at that time, he had to assign 70% ownership to an Indian national, which was Kiran in this instance. This marked the beginning of Biocon India.

Growing and Scaling Biocon

Kiran, as a woman entrepreneur in biotech, faced difficulties securing bank loans, not to mention venture funding. However, she persisted and built Biocon using her own money and profits.

Due to this growth, interest in acquiring Biocon increased over time, leading to Unilever's acquisition of Biocon Ireland. Soon after, Kiran and her husband purchased all the shares of Biocon, thus gaining full ownership.

Fast forward to today, Biocon earned over Rs. 11500 Cr in revenue and Rs. 460 Cr in profits last year.

Top lessons from her journey for women entrepreneurs:

- Don't expect special treatment or play the victim.

- Replace arrogance with empathy, and blend it with ambition.

- Have a clear business purpose before starting. Don't venture into something just for the sake of it.

What have you learned from her story? Share your thoughts in the comments below!

✏️ Jargon of the day

Biotech

Biotechnology is using living things like cells and bacteria to make useful products. For example, bacteria can be used to make medicines like insulin. Cells can be engineered to fight diseases. Crops can be modified to improve farming.

So biotech involves changing living organisms to create things that benefit people and the planet. It combines fields like biology, technology, and engineering.

Biotech gives scientists new ways to improve health, food, fuels, and the environment. It is helping solve many problems in the world.

Loved this edition? Or have some thoughts to share? We'd love to hear from you

Cheers,
Karthik