Kiran Mazumdar-Shaw, a prominent figure in the Indian biotechnology sector and founder of Biocon, has called for a re-evaluation of India's Initial Public Offering (IPO) regulations to better support biotech start-ups. Speaking in Bengaluru, she emphasized that the current norms, which require a minimum of three years of revenue, do not align with the lengthy research and clinical trial processes typical in the biotech industry. This regulatory mismatch limits capital access and undermines the venture funding ecosystem, making it challenging for companies to thrive. Mazumdar-Shaw pointed out that unlike the United States, where companies can list even before generating revenue, Indian regulations hinder innovation by enforcing stringent revenue requirements. She cited the example of Bicara Therapeutics, an oncology start-up that was incubated in India but chose to establish itself in the US due to the more favorable regulatory environment. Her comments underscore the urgent need for reforms that would enable early-stage biotech companies to access public markets, thereby fostering a competitive and innovative landscape in India.