Kiran Mazumdar Shaw named EY World Entrepreneur of the year 2020

Executive Chairperson of Biocon Limited, Dr Kiran Mazumdar Shaw, was named the EY World Entrepreneur of the year 2020 on June 4 at a virtual award ceremony. She was nominated along with 45 nominees from 41 countries.

Mazumdar is the third Indian recipient of the prestigious award, following Uday Kotak of Kotak Mahindra Bank (2014) and Narayana Murthy of Infosys Technologies Limited (2005).

The 67-year-old started Biocon Limited in 1978 in the garage of her rented house in Bengaluru with two employees and US$500. She started off by producing bio-industrial enzymes and a year later, Biocon became the first Indian company to export enzymes to the US and Europe.

Biocon and its subsidiaries are widely known for providing universal access to affordable life-saving medicine and thereby making a lasting impact on global healthcare.

“…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,” Mazumdar said after receiving the award.

The Bengaluru-based entrepreneur was the second woman to be awarded with the title after Olivia Lum of Hyflux Limited from Singapore in 2011.

“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,” Mazumdar added.

With revenues worth $800 mn for the financial year 2019, today the company has customers in over 200 countries and employs more than 11,000 people.