After finishing her education in Australia, Kiran Mazumdar-Shaw made the decision to venture into the field of biotechnology. In 1978, she established Biocon.
Kiran Mazumdar-Shaw, the founder of Biocon Limited, is undoubtedly one of India’s most successful business tycoons. Her journey from a middle-class background to becoming a billionaire is incredibly inspiring.
Kiran Mazumdar was born in Bangalore, Karnataka on March 23, 1953. She attended Bishop Cotton Girl’s High School in Bangalore and pursued biology and zoology at Bangalore University, earning a bachelor’s degree in zoology in 1973. Initially aspiring to become a doctor, Kiran Mazumdar-Shaw’s dreams were thwarted as she failed to secure a scholarship. However, she continued her studies and obtained a master brewer degree in malting and brewing from Melbourne University in Australia in 1975.
Following her education in Australia, Kiran Mazumdar-Shaw decided to venture into the biotechnology field. 1978 she established Biocon with a mere Rs 10,000, starting from a small garage.
Biocon initiated its business operations by extracting papain, an enzyme derived from papaya, primarily utilized for meat tenderization. Additionally, Biocon ventured into the extraction of isinglass, used for beer clarification. Kiran Mazumdar-Shaw’s strategic decision proved fruitful as Biocon became the pioneering company to successfully export these enzymes to the United States and various European nations within a year. With the substantial earnings generated, Kiran Mazumdar-Shaw decided to relocate the Biocon factory to a spacious 20-acre property.
Under the leadership of Kiran Mazumdar-Shaw, Biocon Limited emerged as a prominent player in the biopharmaceutical industry. Presently, Biocon stands as one of the leading biotechnology companies in India, with a net worth of Rs 29,400 crore. Kiran Mazumdar-Shaw’s personal fortune is estimated to be around Rs 20,000 crore.