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1-15 January 2007  
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Home - Market - Article


Villoo Morawala-Patell receives Entrepreneur of the Year Award

Our News Bureau - Mumbai

Dr Villoo Morawala Patell, Founder and Managing Director of Avesthagen was presented the 'Entrepreneur of the Year 2006' award at a recently concluded BioSpectrum awards function in Bangalore. The award was given in recognition of her efforts towards steering Avesthagen into the league of top Biotech companies in India through an innovative business model, which combines product development and services.

Patell was presented the award at a glittering ceremony, which was presided over by the Union Minister for Science and Technology, Kapil Sibal, Dr R A Mashelkar, Director General, CSIR and Dr M K Bhan, Secretary, Department of Biotechnology, Government of India. In addition to this, many luminaries from the biotech industry were also present on the occasion.

Patell is a first generation scientist turned entrepreneur who founded Avesthagen in 1998, focused on preventive personalised healthcare

Bhan, the Chairman of the BioSpectrum Awards Jury, along with other biotech industry leaders were in complete agreement with the selection of Patell as Entrepreneur of the Year. Patell, a first generation scientist turned entrepreneur who founded Avesthagen in 1998, focused on the novel concept of preventive personalised healthcare. Since its inception, Avesthagen has grown into one of India's leading healthcare technology groups in India and in addition to its agri-biotechnologies product pipeline, Avesthagen's activities include development of scientifically validated bioactive nutraceuticals, derived from Indian medicinal plants, as well as the development of a pipeline of bio-similar drugs. "Dr Villoo has set up an impressive company with a sustainable business plan. She has been successfully forging alliances and coming up with novel products," said Nitin Deshmukh, Head, Private Equity, Kotak Mahindra Bank.

In acknowledgement, Patell said "This award is in recognition of the unique model of Avesthagen pursuing its vision to achieve convergence of food, pharma and population genetics leading to preventive personalised medicine." Avesthagen was recently declared a Red Herring Magazine 100 Asia Winner for 2006 for "disruptive innovation." The award recognizes that Avesthagen is an emerging star in Asia and follows a stringent evaluation of its business model, profitability forecasts, management team and technology.


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