Dr. Kiran Mazumdar-Shaw, the Executive Chairperson of Biocon Ltd, has been named EY World Entrepreneur Of The Year 2020. Dr. Shaw was selected from among 46 award winners from 41 countries and territories that were competing for the world title. She is only the second woman to hold the title after Olivia Lum of Hyflux Limited from Singapore won this title in 2011.
During the award’s 20-year history, Dr. Mazumdar-Shaw is the third Indian to win the EY World Entrepreneur Of The Year Award. Her predecessors include Uday Kotak of Kotak Mahindra Bank (2014) and Infosys Technologies Limited ‘s Narayana Murthy (2005). Dr. Kiran Mazumdar-Shaw is also part of the Forbes 100 Most Powerful Women list and Time magazine’s 100 Most Influential People in the World list.
“This year’s winner is a trailblazer who turned a US$500 investment into one of Asia’s leading biotech companies,” said EY. Mazumdar-Shaw graduated from brewing school in Australia in 1975 and had returned to India, ready to start her career as a master brewer, but couldn’t get a job because no one wanted to hire a woman. This is when she decided to create her own business to prove that “women should not be underestimated or denied opportunity just because of gender stereotypes.”
“Since then, Kiran has been a trailblazer for businesswomen in India and around the world,” said the release. Biocon, the company she founded in 1978 with merely $500, is now one of Asia’s leading biotech companies. Biocon provides basic healthcare, sanitation and early diagnosis and treatment of common cancers and non-communicable diseases to marginalized communities It has become one of the largest employers in the region, with over 11,000 employees, and is a pioneer of Bangalore’s technology hub.
Manny Stul, Chairman and Co-CEO of Moose Toys and Chair of the EY World Entrepreneur Of The Year judging panel, said, “Kiran is an inspirational entrepreneur who demonstrates that determination, perseverance and a willingness to innovate can create long-term value. The judging panel were impressed by her ability to build and sustain growth over the past 30 years and by her integrity and passion for philanthropy that has delivered huge global impact. She has built India’s largest biopharmaceutical company on a foundation of compassionate capitalism and putting patient needs before profits.”
“At its core, entrepreneurship is about solving problems. The greatest opportunities often arise at the toughest times and that’s been my experience throughout my entrepreneurial journey. My business focus is global health care and the provision of universal access to life-saving medicine; however, my responsibility as an entrepreneur is greater than simply delivering value to shareholders. Wealth creation can be a catalyst for change, and all entrepreneurs have a responsibility to the world around them and the communities in which they operate. Women also play a hugely important role in economic development, and for too long their contribution has been ignored. It’s important that we use the platform of EY World Entrepreneur Of The Year to encourage more women to participate in entrepreneurial pursuits. I’m truly honoured to receive this prestigious award,” said Dr. Kiran Mazumdar-Shaw.
We at The Company Check are proud of the women that are leading our country into this decade. You can check out complete directorship profiles for other women entrepreneurs in India on our website.
