Kiran Mazumdar-Shaw facts for kids
Quick facts for kids
Kiran Mazumdar-Shaw
|
|
|---|---|
Mazumdar-Shaw in 2014
|
|
| Born |
Kiran Mazumdar
23 March 1953 Bangalore, Mysore State, India
|
| Alma mater | Bangalore University (B.Sc.) Melbourne University (M.S.) |
| Occupation | Founder & chairperson of Biocon |
| Spouse(s) |
John Shaw
(m. 1998; died 2022) |
| Awards | Padma Shri (1989) Padma Bhushan (2005) Othmer Gold Medal (2014) |
Kiran Mazumdar-Shaw (born on March 23, 1953) is a famous Indian businesswoman. She started and leads Biocon Limited, a big biotechnology company in Bangalore, India. She also used to be the head of the Indian Institute of Management, Bangalore.
In 2014, she won the Othmer Gold Medal for her great work in science and chemistry. She was listed among the top 50 women in business by the Financial Times in 2011. Forbes magazine called her the 68th most powerful woman in the world in 2019. She was also named EY World Entrepreneur Of The Year in 2020. Kiran Mazumdar-Shaw was married to John Shaw.
As of 2024, she is one of the richest people in India. Her wealth is about $3.6 billion.
Contents
Early Life and Education
Kiran Mazumdar was born in Bangalore, India, on March 23, 1953. She went to Bishop Cotton Girl's High School and finished in 1968. After that, she studied biology and zoology at Mount Carmel College, Bangalore. She earned her bachelor's degree in zoology from Bangalore University in 1973. Kiran wanted to go to medical school but could not get a scholarship.
Her father, Rasendra Mazumdar, was a head brewmaster. He suggested she study how to make beer and become a brewmaster herself. This was a very unusual job for a woman at that time. Kiran went to Ballarat College, Melbourne University in Australia, to learn about brewing. In 1974, she was the only woman in her brewing class and did very well. She became a master brewer in 1975.
She worked as a trainee brewer in Australia. She also worked as a technical consultant in India. However, when she tried to find a job as a master brewer in India, she was told it was "a man's work." She then looked for jobs outside India and was offered a position in Scotland.
Starting Biocon
Before Kiran could move to Scotland, she met Leslie Auchincloss. He was the founder of Biocon Biochemicals Limited in Ireland. His company made enzymes used in brewing and food. Leslie was looking for someone in India to help start an Indian branch of his company. This new company would supply him with an enzyme called Papain.
Kiran agreed to help, but with a condition. If she didn't like the job after six months, she wanted a brewmaster position.
Beginning with Enzymes
Kiran Mazumdar Shaw first spent some time learning about the business in Ireland. Then, she came back to India. In 1978, she started Biocon India in the garage of her rented house in Bengaluru. She began with a small amount of money, about Rs. 10,000. It was a joint venture, but Indian laws meant Kiran owned 70% of the company.
At first, people didn't trust her much. She was young, a woman, and her business idea was new. She struggled to get money for her company. Luckily, she met a banker at a party who helped her get her first loan. It was also hard to find people to work for her new company. Her first employee was a retired mechanic. Her first office was a small shed.
Building a biotech business in India was tough. There were problems with electricity, clean water, and getting special lab equipment. It was also hard to find scientists with advanced skills.
Biocon's first projects were taking out papain from papaya (used to make meat soft) and isinglass from fish (used to make beer clear). Within one year, Biocon India was making enzymes and selling them to the US and Europe. This made them the first Indian company to do so. With her first year's earnings, Kiran bought a large property to expand her business later.
Growing into Biopharmaceuticals
Kiran led Biocon's growth from an enzyme company to a full biopharmaceutical company. This means they now make medicines. They focus on treatments for diabetes, cancer, and diseases where the body's immune system attacks itself. She also started two other companies: Syngene (1994) for research support and Clinigene (2000) for clinical trials. Clinigene later joined Syngene.
In 1984, Kiran started a research and development team at Biocon. They looked for new enzymes and ways to grow them. In 1987, Biocon got a big investment of US$250,000. This money helped them expand their research. They built a new factory using special Japanese techniques. In 1989, Biocon became the first Indian biotech company to get US funding for its unique technologies.
In 1990, Kiran started another company called Biocon Biopharmaceuticals Private Limited (BBLP). This company worked with a Cuban center to make and sell special medicines.
Becoming Independent
In 1989, a big company called Unilever bought Biocon Biochemicals of Ireland. This partnership helped Biocon learn global best practices. Later, in 1997, Unilever sold its chemical division, including Biocon, to another company called ICI.
In 1998, Kiran Mazumdar's fiancé, John Shaw, bought back Biocon's shares from ICI. He raised $2 million himself. Kiran and John got married in 1998, and she became known as Kiran Mazumdar-Shaw. John Shaw joined Biocon and became its vice chairman in 2001.
In 2004, Kiran decided to list Biocon on the stock market. This meant selling shares to the public to raise money for research. Biocon was the first biotechnology company in India to do this. Many people wanted to buy Biocon's shares. On its first day, Biocon's value reached over $1 billion. This made it only the second Indian company to reach this value on its first day of trading.
Making Medicines Affordable
Kiran Mazumdar-Shaw strongly believes in "affordable innovation." This means finding ways to make important medicines cheaper, especially for people in less wealthy countries. She thinks drug companies should sell medicines at lower prices in developing countries. This way, more people can afford the treatments they need, especially for long-term illnesses.
She saw a big opportunity in statins, which are drugs that lower cholesterol. When the patent for a cholesterol-lowering drug called lovastatin ended in 2001, Biocon started making it. Then they expanded to other statins. This strategy helped statins make up over half of the company's income. Biocon's income grew a lot, from ₹70 crore in 1998 to ₹500 crore in 2004.
Biocon keeps exploring new areas. They use special yeasts to make vaccines, hormones, and other important medicines.
Biocon's main research areas now include cancer, diabetes, and auto-immune diseases like rheumatoid arthritis and psoriasis. In India, many people get oral cancer from chewing tobacco. Diabetes is also common, and foot injuries can become serious infections. Biocon is working on drugs for these problems.
The company makes human insulin for diabetes, an antibody for head and neck cancer, and a medicine for psoriasis. Biocon is the biggest insulin maker in Asia.
As of 2014, Biocon spent about 10% of its income on research. This is much more than most Indian medicine companies. Biocon has applied for at least 950 patents for its research. Kiran Mazumdar-Shaw is still very active in making deals and partnerships to grow Biocon.
Helping Others
In 2004, Mazumdar-Shaw started the Biocon Foundation. This part of Biocon focuses on health, education, and improving facilities, especially in rural areas of Karnataka that don't have good healthcare.
Kiran doesn't like the word "philanthropy" much. She thinks it often gives quick fixes instead of solving the real problems. She prefers "compassionate capitalist." She believes that good business ideas can help create lasting social progress. In 2015, she joined The Giving Pledge. This means she promised to give at least half of her wealth to charity.
Health Programs
In rural India, there is often only one doctor for every two thousand people. Many people cannot afford to see a doctor or buy medicine. The Biocon Foundation runs many health and education programs to help people who are not well-off.
Arogya Raksha Yojana
Kiran Mazumdar-Shaw has supported the Arogya Raksha Yojana (Health Protection Program). This program sets up clinics that offer medical care, affordable medicines, and basic tests. As of 2010, seven clinics helped over 300,000 people each year. These clinics also hold health check-ups in villages. To find cancer early, they train young women to use smartphones to send pictures of suspicious spots to cancer doctors. They also run campaigns to teach people about health issues like heart disease.
The clinics use a special payment system. Biocon provides low-cost medicines, making a small profit from many people buying them. Wealthier patients pay full price for convenient appointments, while poorer patients can get cheap or free services at less busy times. Doctors also try to use new technology to lower costs and keep quality high.
Mazumdar-Shaw Medical Foundation
Kiran Mazumdar-Shaw was inspired to support cancer research because her best friend, husband, and mother all had cancer. In 2009, she opened a large cancer care center called the Mazumdar-Shaw Medical Foundation in Bangalore. She worked with Devi Shetty, a famous doctor. In 2011, she added a center for advanced treatments and research. Her goal is to create a world-class cancer center.
The Mazumdar Shaw Medical Foundation is a non-profit group. It has two parts: the Mazumdar Shaw Center for Translational Research and the Mazumdar Shaw Cancer outreach program.
Education Support
Kiran Mazumdar-Shaw has helped create a basic math textbook. It was introduced in schools in Karnataka in 2006.
She also funded a long-term research program at the Indian School of Business in 2009.
Improving Cities
Mazumdar-Shaw talks about how important it is to improve India's cities and towns. She highlights the need for good government, more jobs, and solutions for food, water, and health problems.
Companies like Biocon and Infosys have greatly changed Bengaluru. They attract many scientists who might otherwise leave the country. Bangalore, once a quiet city, is now known as a great place to work in India. Biocon Park, built in 2005, is a large campus with 5,000 employees. However, outside the developed city, basic facilities are still not very good.
Mazumdar-Shaw supports good government and better infrastructure. She was part of the Bangalore Agenda Task Force, which worked to improve the city. She is also part of the Bangalore City Connect Foundation, which discusses city issues with citizens and the government. She is active in improving roads and is involved with the Bangalore Political Action Committee (B.PAC), a non-profit group in Bengaluru.
After a big flood in 2009, Biocon, Infosys, and Wipro promised to help rebuild homes for flood victims. Biocon committed to building 3,000 houses.
Board Memberships
Kiran Mazumdar-Shaw is on the board of governors for the Indian School of Business. She was also on the board of MIT, USA, until 2023.
In February 2014, Mazumdar-Shaw became the first woman to lead the board of governors of the Indian Institute of Management Bangalore (IIMB).
She is also an independent director on the board of Infosys. She is a member of the advisory board of the MIT Jameel Clinic.
Dr. Kiran is currently an expert on the Brand Bengaluru Task Force committee. This group discusses issues like traffic and water supply in Bengaluru.
Awards and Honours
In 2010, TIME magazine named Mazumdar-Shaw one of the 100 most influential people in the world. She was on the Financial Times' list of top 50 women in business in 2011. Forbes magazine listed her as the 92nd most powerful woman in the world in 2014, and she rose to 85th in 2015. Pharma Leaders Magazine voted her global Indian of the year in 2012.
She was also recognized for her charitable giving. In 2019, she was ranked #14th in the Hurun India Philanthropy List for donating ₹72 crore. She was also #2 on the list of Women Philanthropists of 2019.
International Awards
Mazumdar-Shaw has received many international awards, including:
- The Othmer Gold Medal (2014) for her great work in science and chemistry.
- The Nikkei Asia Prize (2009) for helping regional growth.
- The ‘Veuve Clicquot Initiative For Economic Development For Asia' Award (2007).
- The Ernst & Young Entrepreneur of the Year Award for Life Sciences & Healthcare (2002).
- 'Technology Pioneer' recognition by the World Economic Forum (2002).
- In May 2015, Federation University Australia named a road on its campus "Mazumdar Drive" after her.
- She won The International Executive of the Year Award from the Academy of International Business (AIB) in 2015.
- In 2019, she became a member of the United States National Academy of Engineering (NAE). She is the first Indian woman to receive this honor.
- In January 2020, Kiran received Australia's highest civilian honor.
- She was the 2020 EY World Entrepreneur of the Year.
Indian Awards
Her work in biotechnology has earned her many national awards, including:
- The Padma Shri (1989) and the Padma Bhushan (2005) from the government of India.
- The Economic Times Award for 'Businesswoman of the Year' in 2004.
- "Global Indian Woman of the Year" (2012) by Pharmaleaders Pharmaceutical Leadership Summit.
- Express Pharmaceutical Leadership Summit Award for "Dynamic Entrepreneur" in 2009.
- The Eminent Businessperson of the Year Award from the Indian Merchants' Chamber Diamond Jubilee Endowment Trust in 2006.
- The Indian Chamber of Commerce Lifetime Achievement Award (2005).
- The 'Corporate Leadership Award' by the American India Foundation (2005).
- The Karnataka Rajyotsava Award (2002).
- The "H.K. Firodia Lifetime Achievement Award 2022" for her contributions to science and technology (2022).
Honorary Degrees
Mazumdar-Shaw has received many honorary doctorates from universities around the world, including:
- Her old university, Ballarat University (2004).
- The University of Abertay, UK (2007).
- The University of Glasgow, UK (2008).
- Heriot-Watt University, UK (2008).
- University College Cork, Ireland (2012).
- Davangere University, India (2013).
- Concordia University, Canada (2024).
Personal Life
Kiran Mazumdar Shaw was married to John Shaw, who passed away on October 24, 2022.
Images for kids
-
Mazumdar-Shaw in 2014
-
Mazumdar-Shaw with the Othmer Gold Medal, 2014
-
Dr Kiran Mazumdar-Shaw, Chairperson, Board of Governors, IIMB, with Shah Rukh Khan during IIMBUE 2015 on Dec 11
