Avesthagen's founder, chairman and managing director, Dr Villoo Morawala - Patell, has been recognised by the Adolfo Ibanez University for her achievements in innovation and creation of value. This award was conferred upon her at the opening of VentureL@b by the president of Chile, Michelle Bachelet. VentureL@b is an initiative of Adolfo Ibáñez Business School which proposes an unprecedented way of getting scientific research and business together.

Accepting the award, Dr Patell said, "I have always been driven by innovation and creation of value. It is indeed a great honour to be recognised for the same values. My company stands on the same principles and our aim has always been to explore new frontiers in science through innovation."

Dr Morawala-Patell is a scientist and businesswoman. She established Avesthagen in April 1998 to develop research in Life Sciences and promote sustainable innovation platform in India. The company is India's leading knowledge based Life Sciences Company. It is focused on partnering to achieve a broad spectrum leading to convergence of food, pharma and population genetics aimed at delivering complete healthcare solutions. A few of the company's partners include Danone, Vilmorin & Cie and Cipla.

Among the other notable awards to her credit are the Zee-Archana Astitva Awards 2008 for Excellence in Science and Technology, The Officer of the National Order of Merit Award from the French President in 2008, The Parsi Entrepreneur Par Excellence Award from the Bombay Parsi Panchayat in 2008, BioSpectrum Entrepreneur of the Year Award 2006, Outstanding Woman Entrepreneur for the year 2005-2006 from FICCI and The Ojaswani Udyamita Alankaran Award 2004.