If I can build a company like Biocon, anyone can. The first step was to dream, however big or small. If you have a vision, no matter how big or small, a plan, no matter if it is imperfect, but if there is passion and conviction for it, success is inevitable." In November 2004, Kiran Mazumdar-Shaw (Shaw), the Chairperson and Managing Director of Biocon India Limited (Biocon), received the "Businesswoman of the Year Award," from The Economic Times,² a leading Indian business daily. This award is given to a person who "is global in nature and would have shareholders' good uppermost in mind. The person should have followed her heart and vision relentlessly, broken all glass ceilings³ and pioneered the cause of women in business."⁴ It symbolized the increasing importance of the role of women in the Indian business arena.

One of the most successful businesswomen in India, Shaw has received several awards during her career of over 25 years (Refer Exhibit I for the list of awards received by Shaw). She founded Biocon as an enzyme extraction company in a rented garage in 1978. By 2004, Biocon has emerged as the No.1 biotech company in Asia, and No.16 in the world in terms of revenues and market capitalization. The company made its initial public offer (IPO) in March 2004. The shareholders earned handsome returns on their investments as the stock, which was offered at Rs. 315, touched a high of Rs. 780 in early-November 2004 (Refer Exhibit II for the stock price chart of the company).

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