Funding key to success for women in business: Kiran Mazumdar Shaw
Ms. Shaw spoke of her own experience to drive home the point.
Bengaluru: Seed funding support is the key requirement of women entrepreneurs to translate their ideas into commercially productive ventures, observed Biocon Ltd CMD, Kiran Mazumdar Shaw on Thursday.
Addressing a session on “Promoting Women Entrepreneurship’’ on the second day of Invest Karnataka 2016, Ms. Shaw spoke of her own experience to drive home the point.
“When I started my most memorable and exciting journey of starting a bio-technology company in 1978, it was KSFC, which provided the first financial loan. The enterprising spirit and manpower talent base of Bengaluru as well as the pro-active attitude and policies of the state government are the main reasons for the emergence of Biocon Ltd as Asia’s largest bio-technology company,’’ she said, recalling that the co-founder and emeritus chairman of Infosys, N.R. Narayanmurthy too had said at the inaugural session that his company would not have materialized but for the support from the state government and the sanction of a Rs 50 lakh loan by the state-owned KSSIIDC and KSFC in 1983 after multinational banks refused to lend.
Two exclusive Women Tech Parks are being planned at Harohalli in Ramanagara district and at Hubballi in Dharwad, she revealed .
IKEA CEO, Juvencio Maeztu, said Karnataka was among its four priority states for investment in India and the company will start a web-based tool and also set up for stores in the state shortly.