Kiran Mazumdar – Shaw – Biocon’s Icon

“Don’t ever do it for the money. If there is passion in what you do and the effort is serious, the rewards will surely follow.”

Known as the Most Influential Bio-business Person Outside Europe and USA, Dr. Kiran Mazumdar-Shaw has done India proud. She received the prestigious awards, the Padma Shri (1989) and Padma Bushan (2005) for her pioneering efforts in Industrial Biotechnology. Encouraged by her father, she started Biocon in her garage, which has evolved from an industrial enzymes company to a billion-dollar biopharmaceutical enterprise with a research focus on diabetes, oncology and au to-immune disease. India’s largest biotechnology company with a turnover of over Rs.2,800 crore, Biocon develops and delivers affordable high-quality drugs for world markets. Jeyanthi Manokaran and Juliet Thomas had the privilege of meeting Kiran Mazumdar-Shaw.

Impeccably dressed, Kiran Mazumdar-Shaw is immersed in her work at the computer as we enter her spacious office furnished with neat, understated furniture at Hosur Road, Bangalore. Putting aside her work, she greets us with a winning smile. We sit down to glean wisdom from her years of experience as a pioneer in the field of biotechnology.

What were the biggest challenges you faced as an entrepreneur? How did you overcome them?

Kiran Mazumdar – Shaw: I faced credibility challenges. Having an original business idea that I was passionate about was not enough. In those days, women were not accepted in business, much less an inexperienced young person like me to head a start-up. Being a woman and being young went against me.

Besides this, biotechnology was a completely new field. I talked to so many banks and found it tough to convince them to give me a loan. Worse still, no qualified professional wanted to work for me. But once I established my credibility, I gained confidence in my achievements. Finally it was my technological qualification that saved the day.

Entrepreneurship is about risk-management, not about risk-taking. When I take business risks, I ensure that the company can fund them internally. Biocon’s research and manufacturing assets have been created through internal funding. It has not borrowed money to build or create IP assets.

How did Biocon grow to be such a large, renowned company despite its humble beginnings in a garage?

Kiran Mazumdar – Shaw: You must always start small. You start with a small vision and build on it to make it bigger – because a big vision has equally big challenges and you may tend to give up. Entrepreneurship is a journey of expanding your vision, building on it bit by bit. Don’t ever do it for the money. If there is passion in what you do and the effort is serious, the rewards will surely follow.

How have you managed any low points in your career?

Kiran Mazumdar – Shaw: All challenges are low points. Failing is only temporary, but quitting is permanent. It’s okay to fail and pick up the pieces to start again, but if you quit it’s suicide. The business world has its ups and downs but I never give up. I experiment and explore new possibilities. If you fix yourself in one spot, you will not do justice to your entrepreneurial potential.

How important are values in your system?

Kiran Mazumdar – Shaw: Values are your anchor. If there’s no sense of purpose you’ll be directionless. Be honest in whatever you do and let that honesty drive you towards positive change.

When you think of others, you’re automatically looking out for yourself as well. When your sense of purpose is about collective benefit, you too will end up being a beneficiary. Have a broader objective and don’t be selfish.

At the same time, do have a self interest so that there is ownership and responsibility in what you do. I started the Mazumdar Shaw Cancer Centre and the research centre for oncology with a vision to create affordable drugs that will bring about a transformational change from ‘Cancer Care’ to ‘Cancer Cure’. This is a personal investment of my time and finances. The larger part of the Biocon Foundation is my own contribution. Lately, the Foundation has built 400 houses for the Bagalkot flood victims. We now want to facilitate them further by putting solar lighting etc in the village and plan to take small teams from the company to engage with them.

In a fragmented society, where do you suggest we start correcting our values?

Kiran Mazumdar – Shaw: It’s important to be good doers. There’s absolutely no point in being do-gooders and preaching to kids to change their ways. We should encourage school kids to mix with disadvantaged kids.

When I was at school in Bishop Cotton’s, we were taught values and these values were stressed by my family at home too. It would help to use the Moral Science class to expose kids to reach out in a more practical way. Each child should be encouraged to adopt a disadvantaged child and to visit and experience what it’s like to be in a poorer school. India is filled with a rich and poor divide, and our education tends to be patronizing about poor people.

Besides paying for a good education for my servants’ kids, I also used to teach them when they came home. My cook’s son got a computer science job and was sent to London as a trainer. On one of my visits to London, I took along my cook who works at my home, and he was delighted to meet his son in London as a regular office executive. Another staff ’s son came on TV for landing a scholarship. They have potential but lack the opportunity to do well; don’t feel sorry for them –rather, extend a helping hand. We can help them in so many ways.

My niece went with a college group to Ghana, where they set up low-cost water purification systems for a village. Instead of telling children to give up their good living, expose them to the harsh realities that other kids face due to poverty. That will make them change their attitudes. Take the example of The Ugly Indians, a dynamic group of professionals who want to make a change in Koramangala. “We Indians are dirty,” they say, as they take their brooms, paints and garbage bins every weekend to clean up the place. Once it’s spic and span, they educate the people of that area to follow up by not spitting or littering.

You’re so down-to-earth and approachable. You respect people and are a good team player. How do you motivate people to give their best?

Kiran Mazumdar – Shaw: Don’t let success go to your head. Be rooted in your values, invest in people, give credit to your team when you succeed because you can never do it alone; ordinary people can do extraordinary things. I am very engaged with my people in terms of work. My father taught me that everyone has something to contribute. Life is humbling – don’t take it for granted.

Since I like people to admit their problems and solve them, I delegate a lot. But I do have follow-up meetings and stay closely connected.

What should Indian women look out for when they decide to become entrepreneurs?

Kiran Mazumdar – Shaw: Women in general suffer from a lack of confidence. All outstanding women who have achieved are confident folk. Knowledge has no gender barriers. Nothing stops women from doing things. It’s themselves. Free yourself from any negative thoughts about your gender, and don’t expect any special treatment. Also, do take short breaks with your family to unwind.

You’ve won many national and international awards. Which one do you cherish the most?

Kiran Mazumdar – Shaw: The National Awards. At 35, I was awarded the Padma Shri. When the phone call from Delhi came, I didn’t believe it – I thought it was a prank call and asked one of my friends to check if it was for real and not a joke! The Padma Bhushan was less of a surprise since I was interviewed and nominated first. My dream was to return to India post my education in Australia, and build a reputation for our country so that we Indians will not be apologetic about ourselves. We must show the world that we are among the best!

Kiran Mazumdar-Shaw – interviewed by Jeyanthi Manokaran and Dr. Juliet Thomas, Editor of Vashti. Interview written by Jeyanthi Manokaran, from Vashti writing team.

Jeyanthi Manokaran writes and illustrates for kids. She has a writer’s scholarship from Highlights Foundation, USA and a UNESCO award for illustrating. She has been published by Highlights magazine and Scholastic.