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