Women and Entrepreneurship
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SUCCESSFUL WOMEN ENTREPRENEURS contd...
After returning to India, she worked with her father for a few years as a
consultant to some breweries in Kolkata, Mumbai and Bangalore. She was on
her way to join a brewery in Scotland when a chance meeting with the founder
of Biocon Biochemicals (Ireland), Leslie Auchincloss, steered her into a
career in business. She started Biocon India in 1978 in a joint venture with
the Irish firm. The company was first set up in her garage in Bangalore and
later shifted to a rented house in the suburbs of the city. Her Irish
partners were willing to help her set up the company but she refused their
help as she wanted to build the company totally on her own. In 1980, the
company acquired 20 acres of land in Bangalore and shifted operations to the
new location.
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In the late 1970s, biotechnology was unheard of. As a
result, it was not easy to obtain funds for the venture. Banks and
financial institutions were wary of giving her loans as biotechnology
was a new field and was therefore considered “high risk”. Being a woman,
and one with no business qualification at that, made things even more
difficult. Mazumdar also faced problems recruiting people. People were
reluctant to work for women entrepreneurs as they doubted their
credibility. She soon overcame these problems through dedication and
hard work. |
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In 1999, the Biocon Group was formed with the merger of all
the companies under Biocon, i.e. Biocon India Ltd (founded 1978),
Biochemizymes (founded 1990), Syngene (founded 1994) Biocon Quest (founded
1996) and Helix (founded 1998). Later, in 2000, Clinigene was also
incorporated into the Group. Mazumdar owned 70 percent of the stock of
Biocon and 75 percent of Syngene (the contract research organisation).
Clinigene was a fully family-owned company, operating in the area of
clinical research. Syngene was started in the late 1990s, when Mazumdar
heard from some foreign visitors about the opportunities in contract
research. Clinigene was started in 2000 on the advise of a former business
associate who felt that clinical research offered a lot of possibilities.
Commenting on Mazumdar's foresightedness, R.A Mashelkar, director-general of
CSIR[8] said, “Kiran Mazumdar has the ability to see an opportunity much before
others.” [9]
Mazumdar, however, did not take hasty decisions. She started a business
slowly, first testing the waters and expanding only when she was sure of its
potential. Syngene, for example was conceived in the 1990s but took off only
in 1998. In 2001, it earned Rs 140 million, and in the first half of 2002,
it made Rs 130 million.
When Biocon first started working in 1978, it was a small-scale industry
manufacturing industrial enzymes for packaged fruit juices. Over the years
it evolved into a $ 60 billion global biotherapeutics[10] business. By the early
2000s Biocon had 25 percent of the global market share for pectinases[11] and
had patents for 15 novel enzymes. Totally, the company manufactured and
marketed 73 enzymes. Biocon was the first Indian company to get Food and
Drug Administration (FDA) approval for the manufacture of fermentation
derived molecules for pharmaceutical purposes. The Group boasted of clients
like Glaxo Smithkline[12] , AstraZeneca[13] and Bristol Myers Squibb.[14]
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SHAHNAZ HUSAIN
SHRI MAHILA GRIHA UDYOG LIJJAT PAPAD (SMGULP)
ENTREPRENEURIAL STYLE
QUESTIONS FOR DISCUSSION
ADDITIONAL READINGS & REFERENCES
[8] Council of Scientific and Industrial Research. Established in 1942, it is India's largest R&D organization.
[9] Business World December 2, 2002
[10] Biotherapeutics, also known as probiotics, is the use of beneficial bacteria to positively influence disease outcomes. It involves the induction of healthy microbes into the body to prevent
the growth of pathogens.
[11] Pectinase is an enzyme catalysing the hydrolysis of Pectins.
Pectins are white amorphous substances which, when combined with acid and sugar, yield a jelly-like substance that cements cells together.
[12] Glaxo Smithkline is the world's leading research based pharmaceutical company. It is headquartered in UK and its operations
are based in USA.
[13] Astra Zeneca Plc was formed in April 1999 with the merger of
Astra AB of Sweden and Zeneca Group PLC of UK. One of the prominent
pharmaceutical companies in the world, Astra Zeneca is
headquartered in London.
[14] Bristol-Myers Squibb was created in 1989 through a merger
between Bristol-Myers and Squibb. The merger created the second
largest pharmaceutical company at that time. The company is
headquartered in New York.
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