Keck Graduate Institute Receives $1M Gift for Medical School Scholarship Fund

Keck Graduate Institute Receives $1M Gift for Medical School Scholarship Fund
Billionaire India biotech entrepreneur is donating $1 million to the Keck Graduate Institute in Claremont to establish a scholarship fund for medical school students.

The Keck Graduate Institute in Claremont announced Dec. 7 that it has received a $1 million gift from Indian billionaire entrepreneur Kiran Mazumdar-Shaw and her husband, John Shaw, to establish a scholarship fund for a master of science in community medicine degree program within the KGI School of Medicine.

Mazumdar-Shaw is the founder and executive chairperson of Biocon Ltd., India's largest publicly traded biopharmaceutical company headquartered in Karnataka. Mazumdar-Shaw founded Biocon from her garage in 1978. The company grew into one of India’s largest pharmaceutical companies with roughly 13,500 employees and 2020 revenue of approximately $870 million. 

Forbes estimates her current net worth at $3.9 billion and states she is India’s richest self-made woman. She has also been named among Time magazine's 100 most influential people in the world.

Mazumdar-Shaw joined the Giving Pledge in 2015, committing to giving half her wealth to philanthropic causes. She has been a major supporter of cancer research and treatment since both her father and husband had cancer.

She is also a member of the KGI Board of Trustees. Her affiliation with KGI has come through Biocon Academy’s program in bioscience, which was launched in collaboration with KGI. She was also the keynote speaker at KGI’s 2017 commencement.

KGI’s master of science in community medicine program launched this fall. Its goal is to prepare community medicine practitioners and leaders who work in underserved and underrepresented communities for careers devoted to improving health, preventing illness and injury, and detecting treatable medical conditions early enough to avoid premature death and unnecessary poor health.

Mazumdar-Shaw's gift will establish the Mazumdar-Shaw Scholarship Fund, which will provide scholarships to traditionally underserved students pursuing careers in community medicine.

“Ms. Mazumdar-Shaw's generous gift will inspire others to assist more students with the cost of their medical education,” KGI President Sheldon Schuster said in the gift announcement. “Her support will create a pathway for diverse, first-generation graduates to enter the healthcare workforce and serve underrepresented communities.”

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Howard Fine
Howard Fine is a 23-year veteran of the Los Angeles Business Journal. He covers stories pertaining to healthcare, biomedicine, energy, engineering, construction, and infrastructure. He has won several awards, including Best Body of Work for a single reporter from the Alliance of Area Business Publishers and Distinguished Journalist of the Year from the Society of Professional Journalists.

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