NCERT Textbook: Entrepreneurship | Biotechnology for Class 12 - NEET PDF Download

 Page 1


13.1  Concept of 
Entrepreneurship
13.2 Sources of Funds
13.3  Entrepreneurship 
in Biotechnology
13.4 Concept of IPR
13.5 Biopiracy
Entrepreneurship
13
Chapter 
Entrepreneurs are the harbingers of prosperous society. 
An entrepreneur not only creates employment but also 
contributes to the economic development of the country. 
With the growth of scienti??c temperament in society 
people who have created enterprises based on scienti??c 
discoveries have grown in large numbers. One such ??eld 
of entrepreneurship is based on biotechnology. This 
chapter highlights the role and relevance of entrepreneurs 
in general and biotech entrepreneurs in particular. The 
chapter also has exhibits of cases from the real world about 
entrepreneurs who have caused a niche for themselves by 
successfully launching biotechnology-based enterprises. 
Besides, the chapter also discusses the contemporary 
legislations governing biotechnology-based enterprises.
13.1 Con Cept of e ntrepreneurship The root word for the term ‘entrepreneur’ is the 
French word ‘enterprendre’ that means ‘to undertake’. 
Entrepreneur thus, is an individual who undertakes an 
activity foreseeing business opportunity. An entrepreneur  
organises resources needed for starting the enterprise and 
also bears the risk involved in the process. Thus, there 
Chapter 13_Entrepreneurship.indd   323 23-01-2025   11:29:04
Reprint 2025-26
Page 2


13.1  Concept of 
Entrepreneurship
13.2 Sources of Funds
13.3  Entrepreneurship 
in Biotechnology
13.4 Concept of IPR
13.5 Biopiracy
Entrepreneurship
13
Chapter 
Entrepreneurs are the harbingers of prosperous society. 
An entrepreneur not only creates employment but also 
contributes to the economic development of the country. 
With the growth of scienti??c temperament in society 
people who have created enterprises based on scienti??c 
discoveries have grown in large numbers. One such ??eld 
of entrepreneurship is based on biotechnology. This 
chapter highlights the role and relevance of entrepreneurs 
in general and biotech entrepreneurs in particular. The 
chapter also has exhibits of cases from the real world about 
entrepreneurs who have caused a niche for themselves by 
successfully launching biotechnology-based enterprises. 
Besides, the chapter also discusses the contemporary 
legislations governing biotechnology-based enterprises.
13.1 Con Cept of e ntrepreneurship The root word for the term ‘entrepreneur’ is the 
French word ‘enterprendre’ that means ‘to undertake’. 
Entrepreneur thus, is an individual who undertakes an 
activity foreseeing business opportunity. An entrepreneur  
organises resources needed for starting the enterprise and 
also bears the risk involved in the process. Thus, there 
Chapter 13_Entrepreneurship.indd   323 23-01-2025   11:29:04
Reprint 2025-26
Biotechnology XII 324
13.1.1 Importance of entrepreneurship
Entrepreneurship is widely regarded as the best way to 
augment the growth of an economy. Entrepreneurs have 
played a signi??cant role in developing some of the best 
economies of the world like that of USA and Japan. In 
India too we have had several communities who have 
played a signi??cant role of entrepreneurs for the economic 
development of our nation. Entrepreneurs are the prime 
movers of innovation and the introducers of new products 
into the market. Therefore, they play a key role in improving 
Box 1
1. Howard Stevenson (1983) de??ned that “Entrepreneurship is the process by which 
individuals pursue opportunities without regard to the resources they currently control.”
2. “Entrepreneurship is the persistent progression towards an innovative solution to a key 
problem. It’s the constant hunger for making things better and the idea that you are 
never satis??ed with how things are.” – Debbie Roxarzade, founder and CEO of Rachel›s 
Kitchen
3. “At its core, [entrepreneurship] is a mindset – a way of thinking and acting. It is 
about imagining new ways to solve problems and create value. Fundamentally, 
entrepreneurship is about...the ability to recognise [and] methodically analyse [an] 
opportunity, and ultimately, to capture [its] value.” – Bruce Bachenheimer, Clinical 
Professor of Management and Executive Director of the Entrepreneurship Lab at Pace 
University
4. “To be a successful entrepreneur you must have a passion for learning – from customers, 
employees and even competitors.” – James Bedal, CEO of Bare Metal Standard
are three prominent roles that an entrepreneur ful??ls—an 
innovator, organiser and a risk bearer.
While performing the three roles mentioned above, an 
entrepreneur does signi??cant tasks for self and the society. 
As an innovator, an entrepreneur is the person who brings 
out new products into the market. As an organiser, he/
she organises the factors of production in order to take 
advantage of opportunity in the market. Finally, as a risk 
bearer he/she shoulders all uncertainties associated with 
the venture.
Chapter 13_Entrepreneurship.indd   324 23-01-2025   11:29:04
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Page 3


13.1  Concept of 
Entrepreneurship
13.2 Sources of Funds
13.3  Entrepreneurship 
in Biotechnology
13.4 Concept of IPR
13.5 Biopiracy
Entrepreneurship
13
Chapter 
Entrepreneurs are the harbingers of prosperous society. 
An entrepreneur not only creates employment but also 
contributes to the economic development of the country. 
With the growth of scienti??c temperament in society 
people who have created enterprises based on scienti??c 
discoveries have grown in large numbers. One such ??eld 
of entrepreneurship is based on biotechnology. This 
chapter highlights the role and relevance of entrepreneurs 
in general and biotech entrepreneurs in particular. The 
chapter also has exhibits of cases from the real world about 
entrepreneurs who have caused a niche for themselves by 
successfully launching biotechnology-based enterprises. 
Besides, the chapter also discusses the contemporary 
legislations governing biotechnology-based enterprises.
13.1 Con Cept of e ntrepreneurship The root word for the term ‘entrepreneur’ is the 
French word ‘enterprendre’ that means ‘to undertake’. 
Entrepreneur thus, is an individual who undertakes an 
activity foreseeing business opportunity. An entrepreneur  
organises resources needed for starting the enterprise and 
also bears the risk involved in the process. Thus, there 
Chapter 13_Entrepreneurship.indd   323 23-01-2025   11:29:04
Reprint 2025-26
Biotechnology XII 324
13.1.1 Importance of entrepreneurship
Entrepreneurship is widely regarded as the best way to 
augment the growth of an economy. Entrepreneurs have 
played a signi??cant role in developing some of the best 
economies of the world like that of USA and Japan. In 
India too we have had several communities who have 
played a signi??cant role of entrepreneurs for the economic 
development of our nation. Entrepreneurs are the prime 
movers of innovation and the introducers of new products 
into the market. Therefore, they play a key role in improving 
Box 1
1. Howard Stevenson (1983) de??ned that “Entrepreneurship is the process by which 
individuals pursue opportunities without regard to the resources they currently control.”
2. “Entrepreneurship is the persistent progression towards an innovative solution to a key 
problem. It’s the constant hunger for making things better and the idea that you are 
never satis??ed with how things are.” – Debbie Roxarzade, founder and CEO of Rachel›s 
Kitchen
3. “At its core, [entrepreneurship] is a mindset – a way of thinking and acting. It is 
about imagining new ways to solve problems and create value. Fundamentally, 
entrepreneurship is about...the ability to recognise [and] methodically analyse [an] 
opportunity, and ultimately, to capture [its] value.” – Bruce Bachenheimer, Clinical 
Professor of Management and Executive Director of the Entrepreneurship Lab at Pace 
University
4. “To be a successful entrepreneur you must have a passion for learning – from customers, 
employees and even competitors.” – James Bedal, CEO of Bare Metal Standard
are three prominent roles that an entrepreneur ful??ls—an 
innovator, organiser and a risk bearer.
While performing the three roles mentioned above, an 
entrepreneur does signi??cant tasks for self and the society. 
As an innovator, an entrepreneur is the person who brings 
out new products into the market. As an organiser, he/
she organises the factors of production in order to take 
advantage of opportunity in the market. Finally, as a risk 
bearer he/she shoulders all uncertainties associated with 
the venture.
Chapter 13_Entrepreneurship.indd   324 23-01-2025   11:29:04
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Entrepreneurship
325
the lives of our societies. Enumerating the importance of 
entrepreneurship, we see that they:
(a) help in capital creation by bringing together the 
resources of the people.
(b) are employment creators and their role is pivotal. By 
creating employment opportunities, the standard of 
living of people increases and also the purchasing 
power of the people augments.
(c) help in developing total community. If employment 
is diversi??ed among small entrepreneurial units, it 
promotes overall standard of living leading to stability 
and higher quality of community life.
Entrepreneurship is regarded as the panacea for the 
unemployed in an economy. Self-employment empowers 
an individual and helps in bringing about the social change 
for community development.
13.1.2 Qualities of a successful entrepreneur
India has had some of the ??nest entrepreneurs in history 
that laid the foundation of Indian economy. We can see 
that they all possess certain distinct qualities, some of 
which are summarised below:
1. Initiative: Being an innovator is a signi??cant 
characteristic of an entrepreneur. Entrepreneur takes 
initiative at the right time to launch a venture, enduring 
all the struggles of initiation of a new venture.
2. Knowledge and skill: An entrepreneur is a skilled 
individual who possesses the relevant knowledge 
relating to the industry, economy, consumer choices, 
technology, etc., and prospects of growth for the same 
in future.
3. Risk taker: An entrepreneur is ready to take the 
uncertainties associated with the enterprise. An 
entrepreneur has the foresight to accept the long-term 
prospect of success for the enterprise. In doing so, 
he/she is ready to withstand the short-term risks 
associated with the venture.
4. Adaptability: An entrepreneur is adaptable to the 
changing business environment. As an entrepreneur  
starts and grows the business, they constantly 
monitor the business environment and adapt 
themselves to the changes taking place in it.
Chapter 13_Entrepreneurship.indd   325 23-01-2025   11:29:04
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Page 4


13.1  Concept of 
Entrepreneurship
13.2 Sources of Funds
13.3  Entrepreneurship 
in Biotechnology
13.4 Concept of IPR
13.5 Biopiracy
Entrepreneurship
13
Chapter 
Entrepreneurs are the harbingers of prosperous society. 
An entrepreneur not only creates employment but also 
contributes to the economic development of the country. 
With the growth of scienti??c temperament in society 
people who have created enterprises based on scienti??c 
discoveries have grown in large numbers. One such ??eld 
of entrepreneurship is based on biotechnology. This 
chapter highlights the role and relevance of entrepreneurs 
in general and biotech entrepreneurs in particular. The 
chapter also has exhibits of cases from the real world about 
entrepreneurs who have caused a niche for themselves by 
successfully launching biotechnology-based enterprises. 
Besides, the chapter also discusses the contemporary 
legislations governing biotechnology-based enterprises.
13.1 Con Cept of e ntrepreneurship The root word for the term ‘entrepreneur’ is the 
French word ‘enterprendre’ that means ‘to undertake’. 
Entrepreneur thus, is an individual who undertakes an 
activity foreseeing business opportunity. An entrepreneur  
organises resources needed for starting the enterprise and 
also bears the risk involved in the process. Thus, there 
Chapter 13_Entrepreneurship.indd   323 23-01-2025   11:29:04
Reprint 2025-26
Biotechnology XII 324
13.1.1 Importance of entrepreneurship
Entrepreneurship is widely regarded as the best way to 
augment the growth of an economy. Entrepreneurs have 
played a signi??cant role in developing some of the best 
economies of the world like that of USA and Japan. In 
India too we have had several communities who have 
played a signi??cant role of entrepreneurs for the economic 
development of our nation. Entrepreneurs are the prime 
movers of innovation and the introducers of new products 
into the market. Therefore, they play a key role in improving 
Box 1
1. Howard Stevenson (1983) de??ned that “Entrepreneurship is the process by which 
individuals pursue opportunities without regard to the resources they currently control.”
2. “Entrepreneurship is the persistent progression towards an innovative solution to a key 
problem. It’s the constant hunger for making things better and the idea that you are 
never satis??ed with how things are.” – Debbie Roxarzade, founder and CEO of Rachel›s 
Kitchen
3. “At its core, [entrepreneurship] is a mindset – a way of thinking and acting. It is 
about imagining new ways to solve problems and create value. Fundamentally, 
entrepreneurship is about...the ability to recognise [and] methodically analyse [an] 
opportunity, and ultimately, to capture [its] value.” – Bruce Bachenheimer, Clinical 
Professor of Management and Executive Director of the Entrepreneurship Lab at Pace 
University
4. “To be a successful entrepreneur you must have a passion for learning – from customers, 
employees and even competitors.” – James Bedal, CEO of Bare Metal Standard
are three prominent roles that an entrepreneur ful??ls—an 
innovator, organiser and a risk bearer.
While performing the three roles mentioned above, an 
entrepreneur does signi??cant tasks for self and the society. 
As an innovator, an entrepreneur is the person who brings 
out new products into the market. As an organiser, he/
she organises the factors of production in order to take 
advantage of opportunity in the market. Finally, as a risk 
bearer he/she shoulders all uncertainties associated with 
the venture.
Chapter 13_Entrepreneurship.indd   324 23-01-2025   11:29:04
Reprint 2025-26
Entrepreneurship
325
the lives of our societies. Enumerating the importance of 
entrepreneurship, we see that they:
(a) help in capital creation by bringing together the 
resources of the people.
(b) are employment creators and their role is pivotal. By 
creating employment opportunities, the standard of 
living of people increases and also the purchasing 
power of the people augments.
(c) help in developing total community. If employment 
is diversi??ed among small entrepreneurial units, it 
promotes overall standard of living leading to stability 
and higher quality of community life.
Entrepreneurship is regarded as the panacea for the 
unemployed in an economy. Self-employment empowers 
an individual and helps in bringing about the social change 
for community development.
13.1.2 Qualities of a successful entrepreneur
India has had some of the ??nest entrepreneurs in history 
that laid the foundation of Indian economy. We can see 
that they all possess certain distinct qualities, some of 
which are summarised below:
1. Initiative: Being an innovator is a signi??cant 
characteristic of an entrepreneur. Entrepreneur takes 
initiative at the right time to launch a venture, enduring 
all the struggles of initiation of a new venture.
2. Knowledge and skill: An entrepreneur is a skilled 
individual who possesses the relevant knowledge 
relating to the industry, economy, consumer choices, 
technology, etc., and prospects of growth for the same 
in future.
3. Risk taker: An entrepreneur is ready to take the 
uncertainties associated with the enterprise. An 
entrepreneur has the foresight to accept the long-term 
prospect of success for the enterprise. In doing so, 
he/she is ready to withstand the short-term risks 
associated with the venture.
4. Adaptability: An entrepreneur is adaptable to the 
changing business environment. As an entrepreneur  
starts and grows the business, they constantly 
monitor the business environment and adapt 
themselves to the changes taking place in it.
Chapter 13_Entrepreneurship.indd   325 23-01-2025   11:29:04
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Biotechnology XII 326
Box 2: Story of Dr Krishna Ella, founder of Bharat Biotech International Ltd.
As students we sometimes ask our teachers or ourselves “Why am I learning this? Will 
I even use it in real life?”. Well, if your life goals are similar to those of Dr. Krishna 
M.Ella,that is, to create massive positive changes through scienti??c innovation,then you 
just might.
 Dr. Ella is the Chairman and Managing Director of Bharat Biotech International 
Limited (BBIL), which he co-founded with his wife in 1996 in Hyderabad, Telangana. 
A person hailing from a rural background and born in a village Nemili in Tamil Nadu, 
started his early education from the same village, had his share of ups and downs to 
achieve the feat what he is today. He completed his higher schooling and intermediate 
course in Life Sciences from Madras followed by completing his higher degrees in 
Agriculture from Maharashtra and later from Karnataka. In order to gain marketing 
experience, he worked with the Agricultural Division of a Pharmaceutical company in 
India as well.
 He also pursued Masters in Science (specialisation in Plant Pathology) at the 
University of Hawaii and doctoral programme at the University of Wisconsin, Madison, 
after getting a scholarship. Followed by his Ph. D. in 1993, Dr. Ella joined the Medical 
University of South Carolina, Charleston, where he made a shift from Plant Pathology 
to human and yeast molecular biology. While conducting regular research, he started 
thinking of innovative ideas for the development and production of Recombinant 
Hepatitis B Vaccine.
 In 1996, Dr. Ella returned to India and with the encouragement of his wife and 
his mother, set up a small laboratory in the city of Hyderabad. Their prime objective 
was to innovate in the development of affordable vaccines and biotherapeutics. As 
they wanted India to be known as the country that innovated and the name ‘Bharat 
Biotech International Ltd., was chosen. BBIL was established in 1997 in Hyderabad 
with the funds and assistance from angel investors. Since its inception, BBIL has 
produced over 4 billion doses of various human vaccines for diseases such as Hepatitis 
B, Rabies, Diphtheria, Rotavirus, and corona virus, etc., most of them for the Universal 
Immunisation Programme of India and for more than 120 developing countries to 
safeguard global public health.
 COVAXIN
®
 is Bharat Biotech’s 17th Vaccine and the ??rst COVID-19 Vaccine which 
made in India. Dr. Ella and his team developed COVAXIN
®
, the inactivated whole virus 
and adjuvanted vaccine, in a record time of just eight months. COVAXIN
®
 has been in 
use as a life saving vaccine against the COVID-19 pandemic since December 2020 across 
India and many other developing countries. WHO has also approved COVAXIN for 
emergency use against COVID-19.
 Dr. Ella once said, “Solving today’s problem is not innovation, it is 
the ability to predict the future problem and ??nding solutions to solve an 
important problem, something that matters to public health.” He strongly 
believes in the potential of upcoming generation of students to shape 
the future of India. “For students of science, their focus on academic 
performance today can yield a better life for them and also for everyone 
around them. Many years from now, there will be a new generation of 
science students reading about a different entrepreneur in their textbook.
You can be that entrepreneur too!”
(Courtesy: Bharat Biotech International Limited (BBIL))
Chapter 13_Entrepreneurship.indd   326 23-01-2025   11:29:04
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Page 5


13.1  Concept of 
Entrepreneurship
13.2 Sources of Funds
13.3  Entrepreneurship 
in Biotechnology
13.4 Concept of IPR
13.5 Biopiracy
Entrepreneurship
13
Chapter 
Entrepreneurs are the harbingers of prosperous society. 
An entrepreneur not only creates employment but also 
contributes to the economic development of the country. 
With the growth of scienti??c temperament in society 
people who have created enterprises based on scienti??c 
discoveries have grown in large numbers. One such ??eld 
of entrepreneurship is based on biotechnology. This 
chapter highlights the role and relevance of entrepreneurs 
in general and biotech entrepreneurs in particular. The 
chapter also has exhibits of cases from the real world about 
entrepreneurs who have caused a niche for themselves by 
successfully launching biotechnology-based enterprises. 
Besides, the chapter also discusses the contemporary 
legislations governing biotechnology-based enterprises.
13.1 Con Cept of e ntrepreneurship The root word for the term ‘entrepreneur’ is the 
French word ‘enterprendre’ that means ‘to undertake’. 
Entrepreneur thus, is an individual who undertakes an 
activity foreseeing business opportunity. An entrepreneur  
organises resources needed for starting the enterprise and 
also bears the risk involved in the process. Thus, there 
Chapter 13_Entrepreneurship.indd   323 23-01-2025   11:29:04
Reprint 2025-26
Biotechnology XII 324
13.1.1 Importance of entrepreneurship
Entrepreneurship is widely regarded as the best way to 
augment the growth of an economy. Entrepreneurs have 
played a signi??cant role in developing some of the best 
economies of the world like that of USA and Japan. In 
India too we have had several communities who have 
played a signi??cant role of entrepreneurs for the economic 
development of our nation. Entrepreneurs are the prime 
movers of innovation and the introducers of new products 
into the market. Therefore, they play a key role in improving 
Box 1
1. Howard Stevenson (1983) de??ned that “Entrepreneurship is the process by which 
individuals pursue opportunities without regard to the resources they currently control.”
2. “Entrepreneurship is the persistent progression towards an innovative solution to a key 
problem. It’s the constant hunger for making things better and the idea that you are 
never satis??ed with how things are.” – Debbie Roxarzade, founder and CEO of Rachel›s 
Kitchen
3. “At its core, [entrepreneurship] is a mindset – a way of thinking and acting. It is 
about imagining new ways to solve problems and create value. Fundamentally, 
entrepreneurship is about...the ability to recognise [and] methodically analyse [an] 
opportunity, and ultimately, to capture [its] value.” – Bruce Bachenheimer, Clinical 
Professor of Management and Executive Director of the Entrepreneurship Lab at Pace 
University
4. “To be a successful entrepreneur you must have a passion for learning – from customers, 
employees and even competitors.” – James Bedal, CEO of Bare Metal Standard
are three prominent roles that an entrepreneur ful??ls—an 
innovator, organiser and a risk bearer.
While performing the three roles mentioned above, an 
entrepreneur does signi??cant tasks for self and the society. 
As an innovator, an entrepreneur is the person who brings 
out new products into the market. As an organiser, he/
she organises the factors of production in order to take 
advantage of opportunity in the market. Finally, as a risk 
bearer he/she shoulders all uncertainties associated with 
the venture.
Chapter 13_Entrepreneurship.indd   324 23-01-2025   11:29:04
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Entrepreneurship
325
the lives of our societies. Enumerating the importance of 
entrepreneurship, we see that they:
(a) help in capital creation by bringing together the 
resources of the people.
(b) are employment creators and their role is pivotal. By 
creating employment opportunities, the standard of 
living of people increases and also the purchasing 
power of the people augments.
(c) help in developing total community. If employment 
is diversi??ed among small entrepreneurial units, it 
promotes overall standard of living leading to stability 
and higher quality of community life.
Entrepreneurship is regarded as the panacea for the 
unemployed in an economy. Self-employment empowers 
an individual and helps in bringing about the social change 
for community development.
13.1.2 Qualities of a successful entrepreneur
India has had some of the ??nest entrepreneurs in history 
that laid the foundation of Indian economy. We can see 
that they all possess certain distinct qualities, some of 
which are summarised below:
1. Initiative: Being an innovator is a signi??cant 
characteristic of an entrepreneur. Entrepreneur takes 
initiative at the right time to launch a venture, enduring 
all the struggles of initiation of a new venture.
2. Knowledge and skill: An entrepreneur is a skilled 
individual who possesses the relevant knowledge 
relating to the industry, economy, consumer choices, 
technology, etc., and prospects of growth for the same 
in future.
3. Risk taker: An entrepreneur is ready to take the 
uncertainties associated with the enterprise. An 
entrepreneur has the foresight to accept the long-term 
prospect of success for the enterprise. In doing so, 
he/she is ready to withstand the short-term risks 
associated with the venture.
4. Adaptability: An entrepreneur is adaptable to the 
changing business environment. As an entrepreneur  
starts and grows the business, they constantly 
monitor the business environment and adapt 
themselves to the changes taking place in it.
Chapter 13_Entrepreneurship.indd   325 23-01-2025   11:29:04
Reprint 2025-26
Biotechnology XII 326
Box 2: Story of Dr Krishna Ella, founder of Bharat Biotech International Ltd.
As students we sometimes ask our teachers or ourselves “Why am I learning this? Will 
I even use it in real life?”. Well, if your life goals are similar to those of Dr. Krishna 
M.Ella,that is, to create massive positive changes through scienti??c innovation,then you 
just might.
 Dr. Ella is the Chairman and Managing Director of Bharat Biotech International 
Limited (BBIL), which he co-founded with his wife in 1996 in Hyderabad, Telangana. 
A person hailing from a rural background and born in a village Nemili in Tamil Nadu, 
started his early education from the same village, had his share of ups and downs to 
achieve the feat what he is today. He completed his higher schooling and intermediate 
course in Life Sciences from Madras followed by completing his higher degrees in 
Agriculture from Maharashtra and later from Karnataka. In order to gain marketing 
experience, he worked with the Agricultural Division of a Pharmaceutical company in 
India as well.
 He also pursued Masters in Science (specialisation in Plant Pathology) at the 
University of Hawaii and doctoral programme at the University of Wisconsin, Madison, 
after getting a scholarship. Followed by his Ph. D. in 1993, Dr. Ella joined the Medical 
University of South Carolina, Charleston, where he made a shift from Plant Pathology 
to human and yeast molecular biology. While conducting regular research, he started 
thinking of innovative ideas for the development and production of Recombinant 
Hepatitis B Vaccine.
 In 1996, Dr. Ella returned to India and with the encouragement of his wife and 
his mother, set up a small laboratory in the city of Hyderabad. Their prime objective 
was to innovate in the development of affordable vaccines and biotherapeutics. As 
they wanted India to be known as the country that innovated and the name ‘Bharat 
Biotech International Ltd., was chosen. BBIL was established in 1997 in Hyderabad 
with the funds and assistance from angel investors. Since its inception, BBIL has 
produced over 4 billion doses of various human vaccines for diseases such as Hepatitis 
B, Rabies, Diphtheria, Rotavirus, and corona virus, etc., most of them for the Universal 
Immunisation Programme of India and for more than 120 developing countries to 
safeguard global public health.
 COVAXIN
®
 is Bharat Biotech’s 17th Vaccine and the ??rst COVID-19 Vaccine which 
made in India. Dr. Ella and his team developed COVAXIN
®
, the inactivated whole virus 
and adjuvanted vaccine, in a record time of just eight months. COVAXIN
®
 has been in 
use as a life saving vaccine against the COVID-19 pandemic since December 2020 across 
India and many other developing countries. WHO has also approved COVAXIN for 
emergency use against COVID-19.
 Dr. Ella once said, “Solving today’s problem is not innovation, it is 
the ability to predict the future problem and ??nding solutions to solve an 
important problem, something that matters to public health.” He strongly 
believes in the potential of upcoming generation of students to shape 
the future of India. “For students of science, their focus on academic 
performance today can yield a better life for them and also for everyone 
around them. Many years from now, there will be a new generation of 
science students reading about a different entrepreneur in their textbook.
You can be that entrepreneur too!”
(Courtesy: Bharat Biotech International Limited (BBIL))
Chapter 13_Entrepreneurship.indd   326 23-01-2025   11:29:04
Reprint 2025-26
Entrepreneurship
327
5. Self-confidence: An entrepreneur is con??dent of the 
decisions they take. This self-belief is a key factor that 
makes entrepreneurs successful and acts as a catalyst 
in making them take up risks.
6. Wealth creators: Entrepreneurs are wealth creators 
that translate great ideas into commercial success. 
Those who succeed after taking these risks turn out 
to be wealth creators for themselves and for the nation 
they belong to, by providing valuable employment 
opportunities to the people. Thus, it is seen that every 
successful and economically developed nation has 
nurtured and promoted the entrepreneurial spirit 
among its people.
13.1.3  Difference between Entrepreneur 
and Intrapreneur
Entrepreneur and intrapreneur have similar values—
that of innovation and creativity, the two are often 
used interchangeably. However, an entrepreneur and 
intrapreneur have distinctive differences. An entrepreneur 
is a person who takes risks to start a business venture 
in order to earn pro??t. They foresee the opportunities 
for products and services and coordinates with the factors 
of production to establish an enterprise. On the contrary, 
an intrapreneur is an employee of an organisation 
who promotes innovation among the employees of the 
organisation. They are hired to bring about success in a 
business venture.
13.1.4 Planning and Resourcing an Enterprise
Planning and resourcing an enterprise are critical steps in 
transforming a business idea into a sustainable venture. 
Planning involves setting clear objectives, de??ning the 
business model, analyzing the market, and outlining 
strategies for operations, marketing, and growth. It includes 
identifying potential risks and devising contingency plans 
to address them. Resourcing focuses on securing the 
necessary inputs to support the business, such as ??nancial 
capital, skilled personnel, technology, raw materials, and 
infrastructure. This process requires evaluating resource 
availability, sourcing strategies, and cost-effectiveness 
Chapter 13_Entrepreneurship.indd   327 23-01-2025   11:29:04
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