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The case then examines how Kiran exploited the opportunities in the fast growing biotech industry in India and the
major steps she took to grow Biocon's business. The entrepreneurship and leadership skills of Kiran are also
discussed. Overall, the case focuses on 'opportunity recognition and exploitation processes,' and 'managing start-up
and growth,' while highlighting the role and importance of women entrepreneurs and the problems they face when
doing business in India...
Issues:
» Understand the role of an entrepreneur and a leader in creating a start-up and transforming it into a global player
and a leader in its industry.
» Study the role of an entrepreneur in the struggle, survival and success of a company in the initial and subsequent
stages in the biotech industry.
» Analyze the leadership qualities of Kiran and identify those characteristics that contributed to the success of Biocon
and made it the leading company in the biotech industry.
» Understand the significance and impact of a leader on an organization's culture and human resources
She founded Biocon as an enzyme extraction company in a rented garage in 1978. By 2004, Biocon had emerged as
the #1 biotech company in Asia, and #16 in the world in terms of revenues and market capitalization. The company
made its initial offer of shares to the public 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). Reportedly, Kiran had to break through the 'glass ceiling' effect
on several occasions being a woman entrepreneur in the traditional Indian society.
The Entrepreneur
There she met Leslie Auchincloss (Auchincloss), the owner of Biocon Biochemicals Limited, an Ireland-based
company. Auchincloss was planning to start a business in India. The Irish company wanted to establish its operations
in India to produce simple bio-products from indigenous raw materials.
The IPO was oversubscribed by 33 times, indicating the confidence of investors in Biocon. In December 2004,
Biocon's average market capitalization between April 01, 2004 and September 30, 2004 stood at Rs 54 bn...
Looking Ahead