Why the World Should Celebrate Entrepreneurship Every entrepreneurial journey is about overcoming fears and challenges that come in the way and converting self doubt to self belief

By Kiran Mazumdar-Shaw

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Entrepreneurship is perhaps one of the most economically empowering pursuits. Every entrepreneur embarks on a journey that is fraught with risk, doubt, skepticism and even failure. The notion of taking an idea to the market is daunting yet exciting, aspirational yet challenging.

Every entrepreneurial journey is about overcoming these fears and challenges and converting self doubt to self belief. This is an arduous path that starts with overcoming a credibility challenge that investors ask : How good is your idea? Will it work? Is it worth funding? Once you raise the start-up capital, you have crossed the first entrepreneurial milestone. Then comes the proof of concept and the ability to demonstrate the potential of commercial success which leads to the next capital raise. This is an important milestone that firmly places you on a path ahead that is about validating one's entrepreneurial capabilities in value creation and building scale, the two key benchmarks in ensuring business sustainability and impact.

As an entrepreneur, I truly believe that entrepreneurship is about staying the course and believing in your business model. It's about conviction and strength of courage to withstand criticism and scepticism to allow you to follow your own path. Finally, entrepreneurial success is all about managing risks and failures. Nothing is predictable or guaranteed in a fast changing world that brings new and disruptive ideas every day. Today's entrepreneur therefore has to prove relevance through a greater focus on understanding the emerging and existing competitive landscape.

Resourcefulness and a pioneering spirit have always proven to be hallmarks of success and my message to every entrepreneur is "Be different and daring, pursue business differentiation and bold ideas and above all pursue your goals and aspirations with purposeful resolve.'

Kiran Mazumdar-Shaw

Chairperson and Managing Director, Biocon

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