Through an award ceremony, EY announced that Kiran Mazumdar-Shaw, Executive Chairperson of India-based Biocon Limited, was named as the EY World Entrepreneur Of The Year 2020. She was picked from among 46 award winners from 41 countries and territories vying for the world title. While she is the first Indian woman to win this award, she is the second woman to hold the title, following Olivia Lum of Hyflux Limited from Singapore in 2011.
Shaw is the third EY World Entrepreneur Of The Year Award winner from India since the inception of the awards. In the past, Uday Kotak of Kotak Mahindra Bank (2014) and Narayana Murthy of Infosys Technologies Limited (2005), had been awarded.
Shaw founded Biocon, a bio-enzymes company, in 1978 with just two employees and USD 500. Since its inception, Biocon has grown to employ more than 11,000 people and become one of the strongest innovation-driven biotechnology companies in Asia with revenues of USD 800million for FY19.
Manny Stul, Chairman and Co-CEO of Moose Toys and Chair of the EY World Entrepreneur Of The Year judging panel, said, "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."
Kiran Mazumdar-Shaw, Executive Chairperson of Biocon Limited, said, "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. It is 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 honored to receive this prestigious award."
Carmine Di Sibio, EY Global Chairman and CEO, said, "Entrepreneurs are the unstoppable visionaries who inspire innovation and fuel growth and prosperity by building remarkable companies and services. Kiran's passion to develop low-cost, cutting-edge pharmaceutical alternatives has brought affordable health care to patient communities all around the world."
