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November 23, 2003
Source: Business Today
Genetics' High Priestess
VILLOO MORAWALA PATELL 48, Founder & CEO, Avestha Gengraine Technologies
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At 21, she got married. By 31, she was the mother of two daughters and held a steady job at Hyderabad's International Crop Research Institute for Semi Arid Tropics (icrisat). At 37, she completed a PhD in plant molecular biology from France's University Louis Pasteur. At 45, she founded a company. And Dr R.A. Mashelkar, the Director-General of India's Council of Scientific and Industrial Research describe her as "a committed and enthusiastic visionary whose emphasis on creating intellectual property is important to a country like India". Doesn't read like the typical introduction to a CEO, does it?
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Meet Villoo Morawala Patell, a diminutive Parsi who attributes all that has happened to her to a childhood habit of pushing herself to the edge. "At St Ann's Boarding in Hyderabad, the Italian nuns who taught us used to depasir of me," laughs Patell. "I used to sit on a chair and push it behind to find the tipping point where it would topple; in life, I always push myself to find the tipping point." Right now, Patell's company Avestha Gengraine (from Avestha for the Parsi holy book, and a portmanteau of gene and grain) is pushing at the edge of genetic crop research, influenced in part by the lady's childhood. "While growing up in a well-off family, I saw farmers starving because of drought; I wanted to help them."
It wasn't easy as Patell discovered when she returned to India in 1995. "I went to Dr Anji Reddy, who is a good friend, and explained what biotech could do. He gave me a budget of Rs 50,000 and asked me to write a report; I did a thing called DNA To Drugs; he made polite noises but nothing came of it because he felt it was way ahead of its time." Then came efforts to start-up a R&D hotshop but "all these guys would ask for a revenue model". So, Patell went back to Belgium and to a company called Plant Generics System. "PGs didn't have a revenue model but was eventually acquired by Bayer for $800 million, all because of its IP," says Patell. "That opened my eyes." Research grants from Rockefeller Foundation helped provide the seed capital-other early funders include the Tata Group, Global Trust Bank, and ICICI Ventures, which recently exited in favour of two multinational VC funds-and Avestha was born. In three years, the 95-employee company has filed for 42 patents and been granted seven, including the global patent for genetically-modified drought resistant seeds. Money still remains a problem but Patell is confident that Avestha will get there. "I am passionate about fundamental research," she says.
-Venkatesha Babu
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Number of founders on the list. Villoo Morawala Patell (left), Kiran Mazumdar Shaw (centre), and Shahnaz Husain.
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