Lessons on Entrepreneurship – Kiran Mazumdar Shaw
BY: SHUBHA NARAYANAN
How does Biocon Chief Kiran Mazumdar Shaw define her entrepreneurial journey? “It is a journey from failure to failure, and succeeding in the end,” said Kiran at the E Week closing ceremony. In an inspiring talk, Kiran shared her thoughts on some of the key aspects of entrepreneurship.
On Risk-taking: “Entrepreneurs are inherent risk-takers, because these are people who believe they can transform. However, risk taking is an act of intelligence and not bravado. It is important to learn how to manage these risks and mitigate these risks.”
On challenging status quo: “Never accept that what worked before will work again. Always think of how you can make it better. Once you ask “Why not?”, you will discover powerful answers.”
On Innovation: “Innovation is meaningful only if can be translated to commercial use. Innovation is not about ideating. Ideating is only the starting point. India has huge challenges, which offers us huge opportunities to innovate.”
On her experience: “Biotech is choked with regulations, and any new drug development comes with huge risks and high failure rates. But you don’t give up because you want new answers, you want to find that one drug that can cure fatal cancers.”