The EY World Entrepreneur of the year 2020, Dr Kiran Mazumdar-Shaw is the founder and currently the executive chairperson of Biocon. She is also a co-founder of ABLE and is currently the association’s non-executive chairperson.

According to The Economic Times, EY chose her for this global honor because Biocon become one of the strongest innovation-driven biotechnology companies in Asia with revenues of $800 million ( Rs 6,000 crore) for FY19.

EY said Biocon and its subsidiaries are making a lasting impact on global health care. Millions of people living with diabetes now have access to affordable insulin, while millions more who are battling cancer, rheumatoid arthritis and other debilitating diseases now have access to affordable
biosimilars
“It is a matter of great pride for us to have the Chairperson of ABLE be selected as the EY Global Entrepreneur of the Year 2020,” said Mr Shrikumar Suryanarayan, President of ABLE."

India’s future is clearly tied to innovation and biotechnology entrepreneurship—whether it is for Health Care, Agriculture and Food, or the Environment. It is symbolic indeed that the Entrepreneur of the year is a Biotechnology Entrepreneur and that too from India.” “Kiran is an inspirational entrepreneur who demonstrates that determination, perseverance and a willingness to innovate can create long- term value. The judging panel were impressed by her ability to build and sustain growth over the past 30 years and by her integrity and passion for philanthropy that has delivered huge global impact,” said Mr Manny Stul, chairman and co-CEO of Moose Toys and Chair of the EY World Entrepreneur Of The Year judging panel.

Accepting the award, Dr Mazumdar-Shaw said at the core of entrepreneurship is about solving problems and the “greatest opportunities often arise at the toughest times”.

“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. Women also play a hugely important role in economic development, and for too long their contribution has been ignored,” she said.

Dr Mazumdar-Shaw founded Biocon, a bio-enzymes company, in 1978 with just two employees and $500. Since its inception, Biocon has grown to employ more than 11,000 people and a technology hub in Bangalore and revenue worth $800 million in FY19.

In September 2019, Biocon announced that it would supply rh-insulin at less than $0.10 per day (for the average 40 units of insulin required per patient per day) to low- and middle-income countries — less than a third of current rh-insulin prices. The company has supplied more than 2 billion affordable doses of biosimilar insulins to patients globally in the last 15 years.

She is the third Indian to win this prestigious global award after Mr N R Narayana Murthy of Infosys (2005) and Mr Uday Kotak of Kotak Mahindra Bank (2014). Dr Kiran Mazumdar-Shaw was chosen the winner from among 46 entrepreneurs from 41 countries by the global management consultancy, EY. The award was announced during a virtual conference on June 4, 2020