What did the banks get wrong when you were trying to raise capital for Biocon?
Replied byKiran Mazumdar-Shaw
Founder & Executive Chairperson at Biocon
Niche: Health & Wellness
Revenue: Approx. $172 Million/month
Location: Bengaluru, Karnataka, India
Started: 1978
Venture capital did not exist, and banks considered a twenty-five-year-old girl with no business experience, no collateral, and a novel technology to be too high risk. They could not understand how a liquid or powder produced in a garage could be worth thousands of dollars per gram.
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