IAS officer-turned-entrepreneur C Balagopalan is a real-life hero and an inspiration to many aspiring entrepreneurs today. When he plunged into the hitherto uncharted world of blood bag manufacturing in the year 1983, start-ups didn’t have much appreciation and support, he recalls.
In the 1980s, Balagopalan happened to come across a news article on blood bag technology and he was advised by one of his friend Shashi to visit the Sri Chitra Tirunal Institute of Medical Sciences. There he happened to meet Professor Ramani, head of the research wing. In that one-hour meeting, his life was changed to become an entrepreneur and he was convinced that he was born for this.
He was financially supported by government agencies like SBT and National Research Development Corporation of India. It was a roller coaster ride and he, at one point of time, faced even bankruptcy. But his perseverance, willingness to take risk and foresight pulled the company through. Penpol, after 30 years, was taken over by a Japanese venture and was renamed as Terumo Penpol. It is the largest factory in the world producing blood bags. It produces more than 30 million sets a year. Its factory in Kerala is the biggest of its kind in the southern state Kerala, employing around 1000 people.
