Back then, Bio-excellence functioned as a not-for-profit organization for skills development in Biotechnology.

Dr Ravi says that post his first failure, he continued started grooming himself, and was fortunate enough to have a valuable mentor like Mr Sandeep Saxena, the founder and CEO of Acton Biotech.

His second new venture, Inbiosys, provides project management services (PMS) to pharmaceutical and biotechnology companies engaged in the development, manufacturing and marketing of chemical drugs, biosimilars, vaccines, recombinant proteins and in-vitro diagnostic reagents.

Inbiosys serves its clients through three services including establishing project portfolio management processes, managing third-party outsourced projects to CROs and CMOs, and project management training.

"Smaller and virtual companies do not have well-defined project management teams to work their way up. We help pharmaceutical and biotech companies to set up project management practices. Also, small and mid-sized companies in innovation clusters outsource their projects management needs to India and Asia. We help plan, manage and execute their projects. We also provide project management training to Life Sciences professionals," explains Dr Ravi

He further adds that today the project management in the biotech and pharma industry is not up to the mark.

"I don't see a well-established management function independently working in these two industries. They have adopted the matrix structure having functional departments," he points.

Dr Ravi previously worked with Biocon's subsidiary, Syngene International, a contract research and manufacturing organization.

He holds a PhD from Amravati University. He comes with 11 years of vast and rich experience in the industry.

It was challenging for him to prepare himself to transition from being an employee to a full-time entrepreneur.

"It took 2 to 3 years to ensure I had enough cash to manage the company. Selling our services is a big challenge. Our start-up is a new idea and convincing people in the industry is another task. Getting the right talent to work with us and drive along with the vision and mission of Inbiosys was daunting," he reveals.

In 2008, he enrolled with IIM-Kolkata and completed his Executive Program in Business Management.

His years of experience and huge web of industry network came in handy while incorporating Inbiosys.

"I had a big network in the industry. We had clients and customers even before we started. Networking is a big key. So we had our customer base ready even before starting Inbiosys. We got some of our clients through social media as well," states the scientist-turned-entrepreneur.

Dr Ravi didn't stop there. In November 2014, he founded and launched an exclusive recruitment online platform DNAJOBZ, designed specifically for the Life Sciences professionals and companies seeking employment and talents.

"Helping Life Science professionals find the right career avenues, and helping Life Science employers find the right talent," he wrote on a website.

Going forward, Inbiosys is ambitious to expand to the US, Europe and Singapore.

"Expanding our customer base in the next 1 to 2 years is crucial for us," observes Dr Ravi.

He lays emphasis on starting up to learn the nuances of business.

"If you want to start a business then just start doing it. One should carry out risk and market analysis. Taking calculated risks is important. Follow a risk-based approach. If you want to start then start immediately. You will learn the nitty-gritty of business when you actually do it. Have good mentors," he advices.