Kiran Mazumdar-Shaw, Founder and Executive Chairperson of Biocon, is one of India's most well-known entrepreneurs. She has managed to do things with a lot of common sense, a lot of determination, and a lot of 'foolish courage'. Mazumdar-Shaw sat down for an exclusive chat as part of the Business Today PODS with Sanjeev Krishan, Chairperson of PwC in India, and Siddharth Zarabi, Editor, Business Today. Edited excerpts:

SIDDHARTH ZARABI: What was that instance of foolish courage that you deployed to get where you are today?

KIRAN MAZUMDAR-SHAW: I started Biocon on a rebound. Why do I say a rebound? Because I came back to India thinking I'm going to pursue a brewing career. And when none of the breweries would offer me a job, I decided to create my own job. And the job I chose was quite daunting in the 1970s, to try and be a pioneer in biotech, which is very capital intensive, and which at that time was a huge risk because nobody understood biotech. I started Biocon in defiance to prove people wrong.

SANJEEV KRISHAN: You're going to be completing 50 years as an organisation soon. How have you managed to take the team together?

KMS: Quite a large number of people, especially in R&D and manufacturing, have been with the organisation for over 25 years. That culture is very important because we have a can-do culture. Remember, a biotech company from India trying to compete globally was a big challenge.

What we've also done over the years is to get a lot of good talent joining our company from outside. Especially during this global transition we've had a large number of very good people join us from different parts of the world.

SZ: Your company employs a lot of young talent. How do you inculcate some good practices in the younger generation?