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Tag: Emerging Entrepreneurs

  • Kiran Mazumdar Shaw: How Biocon Founder Became India’s First Biotech Queen?

    India is among the top 12 biotechnology destinations in the world, comprising around 600 biotech companies. In this article, you are going to find information about such a person who has made wealth all on his own, with sheer hard work and perseverance.

    Kiran Majumdar Shaw is an Indian Entrepreneur and Philanthropist who founded a biotechnology company, Biocon Limited in Bangalore, India. She is the Chairperson and Managing Director of Biocon. She received the Othmer Gold Medal for her exceptional contributions to the progress of science and chemistry. Financial Times named her in the business list of top 50 women. Forbes listed her as the 65th most powerful woman in the world. She was also named EY World Entrepreneur Of The Year 2020. She was ranked #2 in the Women Philanthropist list of 2019 by the Hurun Report India Philanthropy List 2019. As of the year 2020, she has an estimated net worth of $4.6 billion.

    Kiran Mazumdar is the executive chairperson and the founder of one of the most prominent biopharmaceutical companies around the globe, Biocon Limited. Kiran is a person who is an inspiration to thousands of women out there who are aspiring to become entrepreneurs. Read Kiran Mazumdar Shaw’s Success Story and know more about the journey of this amazing and inspiring woman.

    Kiran Mazumdar Shaw – Biography

    Name Kiran Mazumdar-Shaw
    Year of Birth 23 March 1953
    Nationality Indian
    Education Graduate degree in brewing from the University of Ballarat, Melbourne
    Profession Entrepreneur, Brewmaster
    Title Executive Chairperson – Biocon Limited and Biocon Biologics Limited
    Net Worth 370 crores USD
    Spouse John Shaw

    Kiran Mazumdar Shaw – Personal Life
    Kiran Mazumdar Shaw – Education
    Kiran Mazumdar Shaw – Professional Life & Career
    Kiran Mazumdar Shaw – Founder of Biocon
    Kiran Mazumdar Shaw – Expansion of Biocon
    Kiran Mazumdar Shaw – Board Memberships
    Kiran Mazumdar Shaw – Challenges Faced in Entrepreneurship
    Kiran Mazumdar Shaw – Success story
    Kiran Mazumdar Shaw – Philanthropy
    Kiran Mazumdar Shaw – Awards & Recognitions

    Kiran Mazumdar Shaw Success Story

    Kiran Mazumdar Shaw – Personal Life

    Kiran Mazumdar-Shaw and John Shaw
    Kiran Mazumdar-Shaw and John Shaw

    Kiran Mazumdar-Shaw was born to Gujarati parents in Banglore on 23rd March 1953, in a middle-class family. Her father, Rasendra Mazumdar was the head brewmaster at United Breweries.

    Since childhood, she aspired to become a doctor but couldn’t get a scholarship. In 1974, she was the only girl pursuing brewery course and topped in her class. At the age of 44, Kiran got married to John Shaw in the year 1989. John was working as the chairman at Madura Coats but left the job to join Biocon with Kiran. John Shaw is serving as the Vice Chairman of Biocon since 2001.

    Kiran Mazumdar Shaw – Education

    Kiran initially wanted to follow in her father’s footsteps. She studied at Bangalore’s Bishop Cotton Girl’s high school.

    She then took a pre-university course from an affiliate of Bangalore University, Mount Carmel College. She further graduated with a bachelor’s degree in zoology from Bangalore University in 1973.

    Kiran wanted to pursue medical college but was unable to get any scholarship in any medical college. Her father then suggested to pursue fermentation science and get trained as a brewmaster, which is a very non-traditional field for women. She went to Ballarat College, Melbourne University in Australia to study malting and brewing. She earned her degree of master brewer in 1975. Kiran Shaw was the only woman who opted for the brewing course and with her intelligence, she topped in her class.

    Kiran Mazumdar Shaw – Professional Life & Career

    Kiran Mazumdar-Shaw with Leslie Auchincloss
    Kiran Mazumdar-Shaw with Leslie Auchincloss

    Kiran started her professional career from Carlton and United Breweries, Melbourne, where she worked as a trainee brewer. Kiran Mazumdar completed her training in Carlton and United Breweries. She also worked at Barrett Brothers and Burston, Australia, as a trainee maltster.

    After coming back to India, she joined Jupiter Breweries in Calcutta as a technical consultant, and after gaining some experience there she worked as a Technical Manager at Standard Maltings Corporation situated in Baroda. She opted to further her career in Bangalore or Delhi but was told that “it’s a man’s profession” and that woman would not be employed as a master brewer in India.

    She started looking for work overseas and was given a position in Scotland. Leslie Auchincloss, the founder of Biocon Biochemicals Limited, of Cork, Ireland met Mazumdar before she could relocate. His firm produced enzymes used in the brewing, food packaging, and textile sectors.

    He was searching for an Indian entrepreneur to assist in the formation of a subsidiary in India. Kiran worked with the firm, and this was a life-changing opportunity for her. Leslie prepared her to work as a manager at his firm. Kiran went to India and began working for Biocon in a leased garage in Bangalore with an initial investment of 10,000 INR after she had a better understanding of the company’s operations and sales.

    Kiran Mazumdar Shaw – Founder of Biocon

    Kiran Mazumdar Shaw Founded Biocon Logo
    Kiran Mazumdar Shaw Founded Biocon Logo

    Kiran started with Biocon in 1978, she faced many challenges because of her youth, gender, and her untested business model. No bank wanted to lend her money, thus funding was a big issue.

    After getting her first funding she started with her first factory which was in a nearby 3000 sq. ft shed. The extraction of papain (a papaya enzyme used to tenderize the meat) and isinglass were the company’s first efforts (obtained from tropical catfish and used to clarify beer).

    Biocon India was the first Indian firm to make enzymes and ship them to the United States and Europe within a year of its founding. Kiran invested her first year’s profits in a 20-acre property, with plans to grow in the future. Kiran transformed Biocon India from an enzyme manufacturing firm to a fully integrated biopharmaceutical company because of her unique thinking and ideas.

    In 1984 Kiran discovered some new dimensions. At Biocon, a research and development team was created to focus on the development of innovative solid substrate fermentation methods. Biocon Pharmaceuticals was the first Indian biotech business to obtain funding from the United States for unique technology.

    Kiran started looking for alternative opportunities which were cost-effective as well low-cost. She had also proposed that drug companies be cost-sensitive in marketing to developing countries so that people can afford the drugs they need.

    Kiran and her husband John have always seen the need to provide people with the best they can, thus increasing and supplying affordable vaccines and medicines in India and helping society to overcome their medical requirements.

    Kiran Mazumdar Shaw – Expansion of Biocon

    Biocon Subsidiaries
    Biocon Subsidiaries

    She managed to establish two subsidiaries of Biocon including, Syngene in 1994 and Clinigene in 2000. Syngene provided a contractual basis early research and development support service while Clinigene focused on clinical research trials and the development of both generic and new medicines. Clinigene was later merged in Syngene and it has a current market cap of Rs.14,270.

    She incorporated Biocon Biopharmaceuticals Private Limited (BBLP) in 1990 to manufacture and market a select range of biotherapeutics in a joint venture with the Cuban Center of Molecular Immunology.

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    Kiran Mazumdar Shaw – Board Memberships

    She is a member of the board of governors of the Indian School of Business and a term member of on the board of MIT, USA till 2023. She has been a former member of the Indian Institute of Technology Hyderabad. She was the first woman to head the board of governors of the Indian Institute of Management Bangalore (IIMB).

    She is an independent director on the board of Infosys. She is a member of the General Body of Maharashtra State Innovation Society. She is also a member of the advisory board of the MIT Jameel Clinic.

    Kiran Mazumdar Shaw – Challenges Faced in Entrepreneurship

    She started with a seed capital of Rs.10,000. Inspite of being a joint venture, Indian laws restricted foreign ownership to only 30% of the company. Thus, 70% of the company belonged to Kiran Mazumdar Shaw.

    She faced reliability challenges because of her youth, gender, and untested business model. She was unable to secure funding for her company initially. She tried hard and finally got her first financial backing. She also struggled while recruiting people to work for her startup. She had to face technological changes with an eye to building a biotech business in India, which was then having a poor infrastructure.

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    Kiran Mazumdar Shaw – Success story

    Kiran met Leslie Auchincloss, who is the founder of Biocon Biochemicals Limited, of Cork, Ireland. The aforesaid company produces enzymes to be used in brewing, food packaging, and textile industries. Auchincloss was desperately looking for an entrepreneur in India, who would help her in establishing an Indian subsidiary of Biocon.

    Kiran agreed to undertake the offer on a condition that if she did not wish to continue post six months, she would be given the position of brewmaster. She started working as a trainee manager at Biocon Limited, Cork, Ireland to learn more of the business. Post the training period, she returned India to establish the business.

    In 1989, Biocon Biochemicals of Ireland was acquired from Leslie Auchincloss by Hindustan Unilever. The partnership with Unilever helped Biocon to establish best practices and quality systems across the world. Unilever then sold its chemical division including Biocon to Imperial Chemical Industries (ICI). Her husband, John Shaw invested $2 million to purchase the shares of Biocon from ICI.

    Kiran Mazumdar Shaw – Philanthropy

    Kiran Mazumdar-Shaw The Giving Pledge
    Kiran Mazumdar-Shaw The Giving Pledge

    With the great success of her company, Biocon has allowed Kiran to donate and be the support of the people who need help but do not have the resources. Kiran is a firm believer in sharing and cares about people hence giving at least half of her wealth to philanthropic work. This was when she joined The Giving Pledge movement in the year 2015.  

    With the support of her husband John, she started up with Mazumdar Shaw Foundation in India to help the needful. The key sectors of the foundation are Education, Healthcare, Art & Culture, and a Healthy Environment. The Foundation is involved in numerous health and education outreach programs to benefit the economically weaker sections of Indian society.

    Mazumdar Shaw Medical Center
    Mazumdar Shaw Medical Center

    Mazumdar Shaw foundation has also established a 1400 bed cancer care center in Bangalore, in collaboration with Devi Shetty. Her goal is to create a world-class cancer center with affordable treatment.

    Kiran Mazumdar Shaw – Awards & Recognitions

    Kiran Mazumdar honoured by the Government of India
    Kiran Mazumdar honoured by the Government of India

    Kiran Mazumdar has been awarded several times for her leadership and  success in entrepreneurship.

    • She has been Conferred with the Bombay Management Association (BMA) Business Leader of The Decade Award in 2022.
    • She has been awarded with the “Spirit of TiE – Trailblazers Award” by TiE Bangalore on World Entrepreneurs Day in 2021.
    • Biocon has been recognized among the Top 20 in the The Medicine Maker Power List 2019 under the Business Captains category in 2019.
    • Kiran has received Padma Shri in the year 1989 and Padma Bhushan in the year 2005.
    • Recipient of EY World Entrepreneur of the Year (2020) and EY Entrepreneur of the Year India Award (2019).
    • Recipient of Order of Australia (2020).
    • Recipient of ICMR’s Lifetime Achievement Award for Outstanding Achievement in Healthcare (2019).
    • Recipient of AWSM Award for Excellence (2017).
    • Knight of the National Order of the French Legion of Honour (2016).
    • Recipient of Othmer Gold Medal (2014).
    • Recipient of Global Economy Prize for Business (2014).
    • Ranked among the world’s 16 Most Powerful Women in Leadership in 2021 by CEO Magazine.

    Kiran is also fond of writing books and she loves reading novels. She has written and has got published two books: ‘Ale and Arty’ and ‘India’s Innovation Challenge for Inclusive Development.

    Conclusion

    The second richest self-made woman in India is the star and pride of the nation. Nobody knew about Kiran Mazumdar-Shaw but now she is one of the most influential women in the country. She has shown the world that a woman can do everything and is a living inspiration for young woman entrepreneurs.

    FAQs

    Who is the husband of Kiran Mazumdar-Shaw?

    Kiran Mazumdar-Shaw is married to John Shaw.

    How old is Kiran Mazumdar-Shaw?

    Kiran Mazumdar-Shaw was born on 23 March 1953 and is 69 years old (2022).

    What is the net worth of Kiran Mazumdar-Shaw?

    Kiran Mazumdar-Shaw has a net worth of  $370 crores as of 2022.

    What is Kiran Mazumdar-Shaw’s education?

    Kiran Mazumdar-Shaw has done bachelor’s degree in zoology from Bangalore University in 1973 and earned a degree as master brewer in 1975 from Melbourne University in Australia.

  • How to Manage Legal Compliance Issues in Startups

    The article is contributed by Mr. Dhiresh, (Co-Founder & C.E.O.), Neem Tree Agro Solutions.

    The fresh wave of Startups and young Entrepreneurs has started in India, which has resulted in the average age of Entrepreneurs in India to keep reducing by every passing day. Youngsters have stepped up for these initiatives with sheer will and confidence. Therefore, the enthusiasm may be high but industry experience is nearly non-existent. This makes managing legal compliance a strenuous task to carry out.

    Startup word is usually more related to freshly churned out ideas and innovative discoveries and less towards legal bindings, security and proper documentation. Due to lack of resources or maybe just deficiency of proper knowledge, they tend to skip the legal compliance issues. Ideal model should be framed in such a way that it compliments the entire process keeping the legal compliance as the premise, because the lack of it confines you and causes scaling issues, which isn’t good for any startup that is looking to grow and expand exponentially.

    On the other hand, even after learning about proper legal compliance techniques it is tough to maintain regulatory compliance such as reporting the GST and seed licensing returns, which prove to be too expensive for a startup. Furthermore, as India is a Union of States, compliance varies from state to state, particularly in the agriculture industry, which is a subject of state government rather than the Union government.

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    One of the first things that comes to mind is that you need to get yourself a lawyer in case something goes south, one needs to consider the monetary license which one has access to. Due to likely issues with money it is sensible to look at certain online facilities available which helps startups get through initial blues, they can be vague and generic but might help you in gaining some knowledge alongside with a different perspective.

    Certain skills, such as verifying the term sheet, are perfected over time. Legal compliances also play a huge role during the fundraising process. So, the first and most important step is to keep your documentation and paperwork in order if you are looking for funding. You should follow all legal rules and regulations set forth by the government and stay up to date with them.

    Lack of human resources is a very pertinent problem among all the newly emerged startups, due to which they often lack in getting things updated, but you need to keep in mind that you should cover all the moral, ethical and legal grounds. Knowing your obligations as an employer, such as adhering with all necessary labor laws, is a crucial part of beginning a business. This involves obeying salary payment, provident fund, and gratuity rules, as well as workplace sexual harassment, maternity benefits, and other policies. If your company is registered with the Startup India programme, you can sign a self-declaration and be exempted from inspection for the first year from the date of incorporation or partnership registration for some laws.

    Internal legal agreement is also an essential part of the legal compliances. It is an arrangement if there are more than one founder, and if somebody decides to leave or join, they should do it in a complete legal manner which is in full agreement of the other founders. Another agreement that plays an important role is the Intellectual property agreement. This agreement should include confidentiality responsibilities for the company’s information, as well as a current assignment to the company of any intellectual property that the person has developed or may develop in the future (while working with the company).

    The lack of proper licensing can also lead to difficulty in running your Startup. As stated earlier, each state may have its own set of licenses and even different industries adhere to different rules set by the state governments or government declared regulatory committees, such as, Import-Export laws, FDI Policy, SEBI/RBI regulations, etc.

    Approval of financial accounts, declaration of dividends, appointment of auditors, and other special business agendas are on the AGM’s regular business agenda. The AGM must be held in the jurisdiction of the company’s registered office. The first annual general meeting (AGM) must be convened within nine months of the end of the first financial year. In the event of a subsequent AGM, it must be convened within six months of the financial year’s end. Every year, there shall be one AGM, with a maximum gap of 15 months between two AGMs.

    Ignoring these difficulties can impede your fundraising efforts, and certain litigations may be brought against your company. When someone invests in your vision, he will look to see how solid your legal foundation is. Your balance sheets must be kept up to date, and your transactions must be clean and traceable. Since resources are limited, it is not an easy task but if you work on it properly, the rest of the process will go smoothly.

    Startup India has taken several noteworthy steps to make the startup process easier. Under the several schemes introduced by the government, it can be seen that they want the number of startups to go up and want the youth to come up with exciting ideas. This shift that is being carried out will result in increased employment, better economy, people becoming independent and many other positive effects. On the other hand, the government needs to work more to reduce the legalities that exclusively apply to startups. This will be a big relief for new startups, as well as a motivator for others.

  • 9 Reasons Why You Should Choose Entrepreneurship Over 9 to 5 Job

    The possibility of beginning a company can be somewhat startling if not out and out scary. Still, there are numerous extraordinary purposes to give it a go. Nowadays, it is “simpler” than it ever has been to begin and maintain a business.

    Regardless of whether a person is bootstrapping his business or has an investment, it is currently more hazardous to rely upon employment. Enterprise is fit as a fiddle and here are a few reasons why everyone ought to consider diving in as well. There are many reasons to leave a 9-5 job and become an entrepreneur. Let us see the complete story on the topic- This Is Reasons- Why You Should Leave 9-5 Job And Become An Entrepreneur.

    1. Not Be Bored
    2. To Be Right
    3. To Be Appreciated
    4. To Make Money
    5. Become Your Own Boss
    6. Unable to Unwind
    7. Obsessed
    8. To Gain Knowledge
    9. Labeled a Rebel

    1. Not Be Bored

    If you get yourself effortlessly bored you know how others begin to view you as an issue. Nothing isn’t right with you aside from that you are exhausted with exercises that aren’t up to your potential and aren’t testing you. This absence of tests is the reason you loathed the vast majority of the classes you ever took. Take a gander at who dropped out of school to wind up distinctly one of the wealthiest men on the planet.

    2. To Be Right

    You need to demonstrate you’re not a maniac isn’t that so? Your companions called you insane, your manager thought you were whacked and even your mother said no chance is that going to work. Be that as it may, hello, you did it. You were RIGHT! Furthermore, now you can move around with your hands on your hips, nose noticeable all around, singing “I’m a business person…. I’m a business person….

    3. To Be Appreciated

    Manufacture your business, procure colleagues and take great care of them. You’ll be valued. Particularly on payday; and when you reveal to them they’re making an extraordinary showing with regards to; and when you give them a raise

    4. To Make Money

    The main motive when you think of becoming an entrepreneur is to earn money and if you become a successful entrepreneur you could earn a lot of money. This is one of the most important reasons to leave a 9 to 5 job and become an entrepreneur.

    5. Become Your Own Boss

    You may not see eye to eye with your manager, but rather you can’t fire him or her. As a business visionary, you will work for your customers, however, you can supplant and fire troublesome customers. Owning your own particular business will empower you to experience being in control of your own workday.

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    6. Unable to Unwind

    Dozing is impossible since you can’t kill your considerations. Your thoughts may even show themselves in your rest your psyche is never killed or on an excursion. The following morning despite everything you’re overwhelmed by the thought, diverting you from the employer should do.

    7. Obsessed

    You may have been named over the top since when you begin on something you have a troublesome time relinquishing it. Try not to give anybody a chance to persuade you this is a malady or insufficiency. Every single awesome business person turns out to be totally inundated in their vision — obsessed.

    8. To Gain Knowledge

    Regardless of whether this is one reason you set out to be a business visionary or not, your tank is presently brimming with information. One thing I’ve adapted, however: It’s greatly improved to have astuteness than information. This is also one of the reasons to leave a 9 to 5 job and start your own business.

    9. Labeled a Rebel

    The significance lies outside of the lines and limits of experts and you don’t think laws, approaches, and directions apply to you. You have been marked a rebel, a run breaker and would challenge gravity if you could.

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    FAQs

    Do entrepreneurs earn more than employees?

    Yes, but entrepreneurship is all about hard work and how successful your product will be in the market. But many entrepreneurs do make less money when they were an employee.

    Why are entrepreneurs better than jobs?

    You are your own boss. Entrepreneurs can work at flexible times which leads to a healthy life but entrepreneurs usually have high-stress levels.

    Are entrepreneurs happier than employees?

    Yes, entrepreneurs are happier than employees but that comes with its own set of drawbacks which is too many failures, long working hours, low income, and high-stress levels.

  • 7 Tips for Crushing Your First Design Startup by Ink n Bliss Founder – Pooja Bhagwat

    The article is contributed by Pooja Bhagwat, Founder of Ink n Bliss.

    Starting a new business is so overwhelming. You need to have a solid plan to build a reputation & to take your company to the next level. Here are 7 tips to help you become an effective start up right from the beginning.

    Tips for Setting Effective Startup

    1. Being Passionate
    2. Setting Goals
    3. Creating Content
    4. Creating Great Customer Experience
    5. Networking Skills
    6. Community Over Competition
    7. Taking Care of Yourself

    Tips for Setting Effective Startup

    Being Passionate

    “Passion is energy. Feel the power that comes from focusing on what excite you” – Oprah Winfrey

    If you really are willing to start & sustain your start up, being passionate about what you do is the key. You are more likely to sustain if you love what you do. You will face sacrifices, failures & low moments along the way but your zeal & your passion will keep you going. You will have the motivation & you will work tirelessly to make it happen. Without passion success in impossible.

    Setting Goals

    Goals help you create a clear path & it will make or break your business success. Of course people with goals are more likely to succeed. So setting goals & achieving them is a must.

    Spend more time visualizing your goals so that you will be more specific about what you want to accomplish. Try to define each step of your roadmap & remember it’s not just about a big picture but having some short term, small goals are also important. Commit to your goals, track them & don’t forget to reward yourself after completing the goals. Stay motivated throughout the process.

    Creating Content

    Creating new content frequently is necessary for any business industry. It reflects your areas of expertise & makes you look like an expert. It will help establish your brand & will also attract new viewers necessary for business growth.

    Though its overwhelming to choose from many different social media channels available today from Instagram, Facebook, Pinterest, YouTube, LinkedIn etc. It’s best to start with just one that you like the most & then slowly going over other social platforms. Also, planning your monthly content helps more than planning a single post. You can quickly overview all the important dates, festivals & events happening in a particular month & can plan your content accordingly. Once your plan is ready, you will be able to create creative content that will delight your audience & hence will help you grow.

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    Creating Great Customer Experience

    How customers feel about you & your brand is extremely important. Attracting new customers & retaining the old ones is essential for a brand’s success & that is possible only through effective customer experience.

    How do you interact with your customers? How well you behave with them? What do you do if something goes wrong? How do you handle crisis? How do you manage to give your best work within deadline? How do you implement your skills effectively? Every step of the communication is a key to creating a good customer experience.

    Always go extra mile while delivering your products or services to your clients. Stay in touch with them right from the beginning conversations till the final delivery. Your logo, packaging, professional email ID, your language, your appearance everything matters & it silently reflects on the minds of your customers & helps build brand loyalty.

    Networking Skills

    The importance of networking is obvious. A strong professional network is definitely needed for any business success. The more you network, the more you will grow & you will build long lasting connections. Networking gives you access to more people & hence more opportunities. The referrals & resources you get through networking works like magic.

    Even if you are an introvert & you don’t like to go out & talk with others, you need to do this somehow. Begin with going to small networking events happening in your area. Try starting a few conversations or just listen to others. Put yourself out there & eventually you will feel more comfortable meeting new people & staying longer at the networking event.

    Community Over Competition

    It’s easy to get caught up in the fear of ‘losing’ customers over competition but life is not a competition. In fact it’s all about relationships. Our lives are enriched by strong bonds & friendships & so does our businesses. Businesses are built on how to best serve your customers & not on how to steal your competitor’s customers. If you are not skilled enough in a particular area, pass on that work to someone else. The more you give the more will come back to you in different forms.

    I firmly believe in community over competition. Coming together & collaborating within your industry is tremendously helpful. Together we feel protected, we understand each other better & when we help each other & cheer each other on, we accomplish things on a different level. After all no one can take away your ‘YOU’ factor & that’s what sets your business apart.

    Taking Care of Yourself

    Though your business is like your baby & you want to work on new ideas 24×7, nothing is as precious as your health. It’s non-negotiable. Eating unhealthy, losing sleeps, working extra hours every day will drain you & you won’t feel energized enough to work on your goals.

    So invest good amount of time in yourself & ultimately in your business. Sleep more, eat healthy & exercise regularly.

  • Phanindra Sama Success Story – The Journey of RedBus

    Travelling is a basic necessity for all of us today. Everyone, from children to the elderly, travel places every day. The objective is distinct from the desire for fulfilment. There are a variety of types of transportation available, including planes and vehicles. However, for many people, the bus is still the most common mode of transportation.

    Booking tickets provides passengers with a unique experience because it is a simple and effective way to purchase a ticket. Bus ticket bookings have increased in tandem with railway and aircraft ticket purchases. There are already a lot of companies that offer online bus ticket booking.

    RedBus, on the other hand, was the first and is currently one of the most popular bus ticket purchasing platforms. Redbus was founded by Phanindra Sama, Chandran Padmarauju, and Sudhakar Pasupunuri. These engineers were from the Birla Institute of Technology and Science. In this article, learn more about Phanindra Sama.

    Phanindra Sama Biography

    Name Phanindra Sama
    Date of Birth 15th August 1980
    Hometown State Andhra Pradesh
    Occupation Entrepreneur, Angel Investor, Advisor
    Founded RedBus.in, Pilani Soft Labs Pvt Ltd.

    About Phanindra Sama
    Phanindra Sama – Education
    Phanindra Sama – The RedBus Journey
    Phanindra Sama – Personal Life
    Phanindra Sama – Investments
    Phanindra Sama – FAQ

    About Phanindra Sama

    Phanindra Sama is a famous name that wasn’t well-known but is recognised in South India as a young Web entrepreneur. Every kid should be inspired by his journey. His experience as a web entrepreneur is unparalleled. He was an average employee ten years ago, but an idea born out of difficulty has set him apart from the group.

    Phanindra Samma was born in the small village Tadapaikal of Nizamabad district in India. He lost his dad at an age where he could not understand why things were happening. This is the major incident in Phanindra that shook his childhood.

    Phanindra Sama – Education

    For his 10th and +2 years, Phanindra relocated to his Uncle’s residence in Hyderabad. He was an exceptional student in his academics. He received an average of 80% in SSC and 97 percent in Intermediate. He was accepted into BITS PILNI in the Electronics Engineering track based on his Intermediate grades.

    In BITS, he has had to deal with a lot of problems. He exhibited leadership characteristics, and as a result, he was named team leader of the photography club at BITS University. At the time, his classmates and fellow students were awestruck by his extraordinary leadership abilities.

    He has attended Stanford University for the Field Of Study Economics, Social Psychology in 2016 in Kings College London. He also went to the Swedish Institute for Field Of Study Responsible Leadership and Sustainable Business Practices. He got a Chevening Standard Chartered Financial Services Fellowship from King’s College London.

    Phanindra Sama – The RedBus Journey

    In 2005-06, Phanindra Sama used to travel by bus very frequently. He wanted to travel to his family but He was late for a bus one day when the idea for RedBus came to him. He discovered a solution to the problem, and as a consequence, Redbus was formed.

    Phanindra Sama considers himself an entrepreneur by chance. He began his career as a Design Engineer at ST Microelectronics, and two years later, he transferred to Texas Instruments as a Senior Design Engineer.

    From his unfortunate experience of missing a bus one day while working at Texas Instruments, he saw the need for an online bus ticket-buying platform. Soon after, he began putting his plans into action, founding India’s most popular and extensive online bus ticket-buying platform, RedBus, and working as the Chief Executing Officer of his own firm (CEO).

    Phanindra Sama founded RedBus with his two friends Charan Padmaraju and Sudhakar Pasupunur in 2006. They failed to raise any funds at the start but later Venture capitalists started approaching them. They received their first seed funding from the ‘Seed Fund’ and built the company and scaled it to huge heights. The company was at the peak of its success when the Ibibo group acquired Redbus.

    Following that, Phanindra Sama left the firm. He was employed as Chief Innovation Officer with the Government of Telangana. Sama is now an advisor at West Bridge Capital. He is also an angel investor, investing in tiny businesses that he believes in.

    Phanindra Sama’s net worth is estimated to be over $12 million, according to reports.

    Phanindra Sama – Investments

    Date Organization Name Funding Round Money Raised
    Oct 27, 2021 Stoa School Seed Round ₹110M
    Jul 19, 2021 Eka Care Seed Round $4.5M
    Nov 27, 2020 Kagaaz Scanner Seed Round 575k
    Oct 13, 2020 Tread Pre-Seed Round $1.1M
    Oct 1, 2020 QuestBook Pre-Seed Round $625k
    Mar 8, 2020 AirMeet Seed Round $3M
    Jan 8, 2020 RheoTV Seed Round $2M
    Jul 15, 2019 Jiny.io Seed Round $725k
    Mar 21, 2018 OpenTalk Seed Round –
    Feb 13, 2017 Flyle Seed Round $400k

    Phanindra Sama – Personal Life

    Having a love life while attempting to create a business, Phanindra Sama confesses, is quite challenging. When Phanindra Sama was busy aggregating bus services all the time, he didn’t have time for dating. Phanindra Sama’s interactions were mostly limited to his stakeholders, and he didn’t have a girlfriend.

    Phanindra Sama did an arranged marriage. The date of Phanindra Sama’s wedding was determined by his parents, and the identity of Phanindra Sama’s wife has not been revealed to the public.

    The wife of Phanindra Sama is a very quiet woman who very occasionally attends events with his husband. She is kind of a life at home mother who is concerned for her children and their growth. Phanindra Sama stated unequivocally that he sold his firm for a variety of reasons, one of which was to give his daughter and his wife more time.

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    Conclusion

    Phanindra Sama built a thriving business and transformed the bus ticket booking system in our country. Phanindra Sama has now continued to fund new startups, as an angel investor. The nicest part about his newly created site is that he did not start it as a business. He merely intended to find a solution and assist everyone who was experiencing the same difficulties he had.

    For a few years, Phanindra and his wonderful pals worked really hard because their efforts were not recognised by others who had worked in the tourism sector for many years. Nothing, however, could persuade Phanindra to abandon his plan, and this is what contributed to his triumph.

    Phanindra Sama – FAQ

    Who is Phanindra Sama?

    Phanindra Sama is an entrepreneur and the founder and former CEO of RedBus.in & Pilani Soft Labs Pvt Ltd.

    What is the net worth of Phanindra Sama?

    Phanindra Sama’s net worth is estimated to be over $12 million, according to reports.

  • How To Apply For Business Awards For Your Startups? – A Stepwise Guide

    There is nothing more motivating than receiving awards and getting recognized by award committees, especially for start-ups. Entrepreneurs’ hard work pays off when their business makes it into the market and people start appreciating its products or services.

    But, how do start-ups get recognized by award committees and how do we apply for it? There is a procedure as to how you can take your business to the next level. Surprisingly, getting nominated for business awards might not be as tough as you might think.

    Winning a business award can be easy but most start-up owners are not bothered even to at least try for it. Given below is the complete process to apply for business awards.

    Stepwise Process to Apply for Business Awards
    Step 1. Locate Awards
    Step 2. Find out Awards won by your Competitors
    Step 3. Look into the National Awards
    Step 4. Look into Industry Awards
    Step 5. Start your Application Process
    Step 6. Design a proper written application
    Step 7. Submitting the application form
    Step 8. Earning the award
    Where To Apply For Business Awards?
    Conclusion
    FAQs

    Stepwise Process to Apply for Business Awards

    Receiving awards is the ultimate motivation for business owners. Here are steps to follow and apply for business awards.

    Step 1. Locate Awards

    The first step would include clarifying the types of awards that you want to apply for. Do not waste time on awards that your business will never be able to win. There are two different parts to ensure that you are applying for the right awards.

    The first part is to make sure that your business qualifies for the awards that you are applying for. Certain entries need to be made like the type of industry, location of the business, and the size of the business.

    The second part is to make sure that applying for those awards that your business does well. Study your business well and note down the strengths of your business. For example, if your business is known for excellent delivery services, apply for a similar category.

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    Step 2. Find out Awards won by your Competitors

    Knowing about the achievements made by your competitors will give you an idea about choosing to apply for the right awards. Visit the official websites of your competitors and see what awards and achievements they have made.

    Look and analyze those awards that your competitors have won the most number of times. Applying for the same category and winning could give you a chance to break the winning streak of your competitors.

    Step 3. Look into the National Awards

    India 5000 Business Awards

    Operating a small business does not mean you cannot look into national awards for your business. Last year, a Bangalore-based start-up named Mandya Organic won the national award under the agricultural sector award.

    Based on your business’ services or the products that it is offering you can look into similar categories of awards. Winning national awards will not only market your products and services but will create a sense of recognition in people’s minds. The competition will be fierce if you apply for national awards. Some of the most reputed and prestigious awards that you can apply to are:

    • Quality Mark Award
    • India 5000 Best MSME Awards
    • Emerging Entrepreneurs
    • Golden Peacock Awards
    • Small Business Awards
    • Emerging India Awards
    Small Business Awards

    Step 4. Look into Industry Awards

    There are special awards for each type of industry for the best businesses within that industry. Try to check with the trade publications, magazines, and industry websites to check whether they have any kind of business awards for your business.

    Also while looking into industry awards in various places do not miss out on the local awards. Local magazines, local newspapers, local Chamber of Commerce might have certain programs that might gain your attention. Winning local awards might not give you recognition as compared to after winning a national award but it still matters a lot.

    Step 5. Start your Application Process

    As soon as you find awards that are the most suitable for your business start applying for them without wasting a minute. Start the application process so that you don’t miss out on the opportunity.

    If there is more than one award that you are applying then make a schedule to fill them all out. During the weekends when you are free or at night fill out all the forms and submit them. Your time will get paid off once you win the award.

    Step 6. Design a proper written application

    Before you do anything else make sure you plan your written applications properly. Sit down, relax and start writing down the figures and facts that you want to mention in your application. Keep your key points ready by making a list of them.

    If you want you can note down or provide additional information but try not to miss out on anything that could be crucial for your business. Check out the list against the requirements of the award so that your business has a fair chance of winning.

    Step 7. Submitting the application form

    You have worked hard so that your business can get recognized by more people. You have to submit your application because it would be useless if you do not submit it.

    Before submitting the application form let your family members proofread it once so that they can point out mistakes (if there are any). Check that all the documents attached with the application form are correct and updated to prevent issues later on. Wrong information or attachment could straight away disqualify your application. Keep a copy of your application so that in the future you know preparing for it step by step.

    Step 8. Earning the award

    After you have submitted your application form there is nothing else that you can do now. Keep patience and wait for the results to be announced. Winning the award does not mean your hard work has come to an end because you still have to showcase your business to the world.

    To make that happen prepare a good story of your business because people love to hear something new and that’s what will give your business a stand-out advantage. Explain your hardships and the dedication that you made to developing your business.

    Where To Apply For Business Awards?

    Applying for business awards is easy but from where? There are some online websites where you just have to register your company to apply for business awards.

    • acebusinessawards.com (online)
    • thebusinessawards.com (online)
    • thetitanawards.com (online)
    • startupindia.gov.in/awards (online)

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    Conclusion

    It is a great feeling to win an award especially if it is for your start-up business. Winning awards and achieving great things will become the only motivating factor once you do good in the business world.

    FAQs

    How to get nominated for the local business awards?

    To get nominated for the local business awards follow the steps given below:

    • Visit the local business official website
    • Submit coupons that should be provided by the local media partner
    • Submit coupons located at their favorite business premises.

    Which are the most prestigious business awards in the world?

    The most prestigious business awards are:

    • Scale-Up Awards
    • Growing Business Awards
    • International Business Awards
    • European Business Awards
    • Great British Entrepreneur Awards

    Why winning awards are important?

    Winning awards will not only create market value but is good for the credibility of your company. New business and new contracts will flourish once a company starts winning prestigious awards.