Dr Nik Kotecha OBE: From Refugee to Business Empire | Why Success Means Giving Back

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0:35Smooth caramel maybe? Or a white chocolate mocha? Whichever you choose, delicious coffee awaits. Find Starbucks frappuccino drinks wherever you buy your groceries. Find your passion. From your fashion, you'll get your purpose, and from that you'll build your business. And don't worry what you see on social media where people are talking about doing it overnight. You know, take your time, patience, and then build it properly. Tell me, who is Dr. Nick Kottesha? I'm somebody who has gone on a bit of a mission to give opportunity to other people in the UK and around the world. The same opportunity that I had in 1972 when I came here as a very young child, as a refugee from Uganda, really fleeing.

1:13And I've got huge respect for you because you could be sitting on a beach right now with a cocktail. You don't need to be here. The success you've achieved, all that you've done. And there's a crisis of opportunity here in the UK at the moment for our youngsters. Incredible amounts of talent, but we've got to really give them more opportunity. the kind of opportunity that I had when I was growing up through education, through sport. You know, back yourself, but it's hard work. It's going to take time. Absolutely right. I think it does take hard work. It takes resilience and there'll be setbacks.

1:40And that's normal in business. It's normal in life as well. Over time, I realised that this is learning experiences. And as you learn more, wisdom and experience is a real powerful asset and it compounds. But one more question. I know you don't do any podcasts or too much media. You're very private, which I really respect. What made you say yes to coming on Extraordial Stories with me?

2:14Sorry to interrupt. I've never asked this before, but if you can subscribe and follow, that will allow me to keep bringing extraordinary guests onto the show. Now let's get back to it. You're looking forward to this? Yeah, me too. Tell me, who is Dr Nick Kottasher? Wow, that's a good question. Well, I guess I'm a father, I'm a husband, but going through my career, I'm somebody who's been a scientist, an academic, an entrepreneur, a business leader, influencer, but probably at this stage of my life, most importantly for me today, I would say I'm somebody who really has gone on a bit of a mission to give opportunity to other people in the UK and around the world.

2:55The same opportunity that I had in 1972 when I came here as a very young child, as a refugee from Uganda, really fleeing people who were being killed there. So that's probably where I am today. Yeah, what a great introduction. There's so much to unpick there. We've met through that sort of philanthropic and mission-led side that has brought us together. Yes. And I've got huge respect for you because you could be sitting on a beach right now with a cocktail. You don't need to be here. The success you've achieved, all that you've done. But that mission is trying to be Burns, doesn't it? To give back, to help.

3:27So I want to open that up more. What is that purpose, that drive that you've got? I think it's a passion. I think I get happiness by helping other people. That's something that I've lived with for many, many years. And I've now got the opportunity to be able to do that after growing a business over 32 years. And I think there's a lot of need, especially when we see our youngsters and some of the challenges that we're seeing. And I think there's a crisis of opportunity here in the UK at the moment for our youngsters. Incredible amounts of talent, but we've got to really give them more opportunity, the kind of opportunity that I had when I was growing up through education, through sport, through different things that they can actually get involved to prevent this isolation, loneliness, probably disengagement that we're seeing with youngsters.

4:10So I'm really having fun doing that and trying to see if we can make a difference. Yeah, and you're quite at the heart of that. We had a memorable dinner here, actually, in the hotel we're filming at with Sir Gav Southgate in the CSJ, the Centre for Social Justice, which you're a key part of. And as recent as was it last week when we were together with a number of people, you included, trying to really help that kind of crisis of identity, almost the anti-manosphere, if you like, that's been allowed to develop, where, for me, the role model piece is key. Yes. And I wanted to bring that in to the conversation where I see you as a role model, an entrepreneur, a fellow entrepreneur that looks at what you have achieved and looks at the fact that making money at some point in your life was a clear goal and target to survive.

4:55But then the moment that you reached a certain point, you were already looking to be able to help others and give back. Was there a role model for you that inspired you to ultimately become an entrepreneur? Very much so. I think it was my parents. I mean, And if you think the story that came, they were entrepreneurs in Uganda and they were very well off. And literally overnight, that money left them. They came here to the UK. And then with nothing,£34 and a couple of suitcases and albums of memories of photos. And started from scratch. And I saw their work ethic of working hard. They both ended up working in factories to support their three children.

5:31So I think that stayed with me for a long time. And even though they had nothing, they were always there to make sure that if anyone came to our house, they would be supporting them, helping them, making sure they were fed, all of these things. And I think that's the kind of culture that we grew up with. And I'm incredibly proud because both of my children are like that now as well, both doctors and want to help people. But I think this point about the Centre for Social Justice, and I'm very proud of that. I'm a director there and a trustee of His Majesty's King's Trust. This is all about raising aspirations of youngsters, giving them hope, giving them the opportunities to really go out and build lives for themselves and giving them some purpose.

6:08And of course, we saw that through the Milburn Report recently, where they were talking about that, that kids need those opportunities. And Gareth Scalke just very recently did a fantastic documentary where he talked about youngsters having work, but it gives them a sense of identity. It gives them a routine purpose and it gives them structure in their lives as well. So I think we're trying to promote that and see how we can help young people to really build futures for themselves. Hey, it's Ryan Reynolds here from Mint Mobile. Now, I was looking for fun ways to tell you that Mint's offer of unlimited premium wireless for$15 a month is back.

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7:26So you can make the most out of every decade and dance break. Learn more at drinkag1.com. There's a really invaluable point there about the hard work that goes into being an entrepreneur, which you know only too well. So there is a crisis. There is a need to be able to support and help young lads in particular right now. But as a young lad yourself, you started business in a garage and you put 16 hour days into that. So there's an affinity that I think you've got with entrepreneurs. I know you do a lot to help them with the Great British Entrepreneur Awards. And I want to bring that into the conversation.

8:02But going back to a young version of you that knows how hard it is to set up a business. Tell me how that started. Well, I'm absolutely inspired by entrepreneurs and I know what it's like starting out, growing and then scaling up a business. And I think from my side of it, you know, I tried the corporate world. So I did a lot of education. I went into a big pharmaceutical business, didn't really enjoy it. And my passion was to help people. And that's how the business started. It was about really why do people in developing countries not have access to high quality medicines? The kind of medicines we had here in the UK, which we could trust.

8:36We had Brand UK, we called it, the quality, the regulatory. Other people in the world weren't getting those. So we thought maybe we could export medicines from the UK into developing countries. Very unique model, 100 % export business, which then grew into the UK market. But I think that journey was that it was hard work. Entrepreneurship is hard work. And you see all the success later on in life. But of course, there's a lot of unglamorous work that goes in to actually build businesses and grow. And I guess for me, hard work was built into me and I had no problems. It was the day job, working for a big farmer and then a little garage with a fax and a phone starting out and starting a business.

9:18And I remember you telling me in a previous conversation, you took no investment. You bootstrapped it. We did. You put the graft in with your wife to then create something that, dare I say, became a lot bigger than you ever imagined. And I think that that piece, I might be repeating this slightly, but the fact that Instagram, social media now promotes the kind of entrepreneurial world is kind of look at me with the view of the Dubai Merino and look what I've achieved. And I did it overnight. Yeah. I feel like it's a false message where you really are trying to instill that. And is that part of the kind of mentoring piece that you give to entrepreneurs where, you know, back yourself, but it's hard work.

9:59It's going to take time. Yes, absolutely right. I think it does take hard work. It takes resilience. And there will be setbacks. And that's normal in business. It's normal in life as well. And I think it took me a little while. I used to get quite upset with that. But then over time, I realized that this is learning experiences. And as you learn more, wisdom and experience is a real powerful asset and it compounds. And I think that's something that I say to people, don't look for the big wins immediately. You do have to put the hard work in. And there is, of course, measured risk taking as well in a business, which is exactly how we did it.

10:34We took things and things will change. You have to be able to adapt. You have to change your business model depending on circumstances. And we had that two or three times in our business growth journey. Can you give an example? Because that resilience piece and the fact that you brought that up, Rather than talking about any significant achievement, any significant deal that was X amount, you bring up the fact that you're probably a better version of yourself sitting here now because of the challenges you went through. Yeah, well, I remember we started the business in 1991. So for almost probably 10 years, we were very successful.

11:05Not many people were exporting medicines to developing countries at that time. And suddenly we'd hit 25, 30 countries very quickly. Huge growth. Huge growth in that time. But of course then the internet age came in and at that time in the 90s we were a middleman, we were a trader. We were buying from somebody, we were selling to somebody in a different country. But now with the internet age coming in the world was communicating and we knew we couldn't survive just being in the middle there. So we had to change our model, completely pivot and think about well what do we do next? And that's when we started the UK business and we thought right now we want to have our own generic medicines, our own formulations, our own IP.

11:45We want to start manufacturing and then distributing in the UK to our NHS and all the hospitals and pharmacies. So a big decision, a level of investment needed to build all the quality, the regulatory and the infrastructure to allow you to do something like that. But it really was a necessity, otherwise the business wouldn't have survived. When you started Morningside out of your garage with your wife, what was the motivation and how ambitious were you with it? Well, it really came from a sense of purpose. We couldn't understand why people in developing countries were not getting high quality medicines.

12:18And of course, a lot of them were counterfeit there. So it was never really a business that we thought would grow and was going to be a big business. It was something that had a purpose, which we could help people in developing countries, but also allowed us to maybe make some money to go out and have dinner once in a while, go out and things like that, rather than thinking it was going to be a large global business. So that's really how it started from that little garage with a fax and a phone. So important to share that. How many youngsters now or even people pivoting want to start a business and aspirations just to make lots of money?

12:50Yeah, I think I always find, as I say to youngsters, is that find your passion. From your fashion, you'll get your purpose. And from that, you'll build your business. And if you've got passion for your cause of what you're trying to do, and it's not always about just making money, it could be lots of different things that you're trying to do. Of course, the money is nice to have as well. and be patient with that as well because it takes time to go to build good businesses it will take time and don't worry what you see on social media where people are talking about doing it overnight and you think oh I've not done enough it doesn't work like that you know take your time patience and then build it properly.

13:24I've got one more question um I know you don't do any podcasts or too much media you're very private which I really respect what made you say yes to coming on extraordinary stories with me. Oh, I think when I met you, I just felt a connection, John. I think it worked. And you're right, I don't very do, very rarely do media like this. But you gave me this confidence to come out and talk a little bit about some of the life. And more importantly, just to say to youngsters and other people that, well, if I did it, you definitely can do it and have the confidence that's going to be help out there and support and go and do it.

14:00I know another part of what you do is you have almost like a family office investment fund set up to back entrepreneurs. Yes. What do you look for when you're backing someone? Oh, I think I love this bit. So, of course, we focus very much on life sciences because that's my background and that's our understanding. So stick to what you know. Stick to what you know. And I did, you know, after we sold the business, I went and looked at space and robotics and AI and lots of things. Everyone advised me, you've been doing this a long time, you understand this. And I think there's quite a few things you look for when you're looking at an investment.

14:31It's always first about the individual, the person and the team and the people. That's the best thing. The kind of things I did, you know, dedication, 12, 16 hours, wants to work hard, got the passion, got a reason. And then you go on to the business model. But I think on an investment, what I look for is that how do I add value? It shouldn't be about the investment of the money. It's about the relationships, route to market, regulatory experience, quality experience, things like that. that the investor brings in to your business. And that's when it makes a very powerful and strong relationship and investment.

15:04Yeah, you came alive then as well. I can tell that's a real passion. That's the almost keeping relevant bit. Can we bring AI into the conversation as well? So the people first, I love that. You're looking for that fire, that drive, that work ethic that you can then help mold and shape. And of course, capital can then accelerate. And that joins you. It's a beautiful kind of marriage. Where are you using AI in any business interests you've got right now? and how is it changing things for you? Well, AI is changing everything we're seeing and it's going to be incredibly powerful. And especially for knowledge, I think this is probably where we use it.

15:35We can do our backroom research on that and a lot of people are using it for that. But I think I saw an interview, it was actually on Bloomberg TV, I think it was, and it was Janstrand Huang, the CEO of NVIDIA. And I think one of the interviewers actually said to him that, you know, what is smart or who's the smartest person you've ever met? And he dodged that question and said, well, there's lots of smart people and a lot of smart people work for me. But let's define smart in this world of AI. And that really resonated with me. I think smart in this world of AI is very much, and I'm adding my bits to it on top of what he said, was really it's going to be empathy.

16:13It's going to be experience. It's going to be emotion. It's going to be love. It's going to be the human qualities that maybe AI can't give you, but can give you lots of information and a lot of education and things like that. And I think that's going to be the smart of the future. And that's what I think we need to encourage much more in our youngsters and as they go out looking for jobs. It's great to share that because, you know, that's the human piece, isn't it? That's the connection, the vibration that is a feeling almost more than anything you could learn or kind of ask. And we know business works like that.

16:45That gut feeling that you know or the relationship building, the communication, all of that works through that. I'm really glad we've covered that. I want to humanise you, that kind of successful entrepreneur, business person, philanthropist. At what times in your life have you managed to get what you might call a balance right? The family, the work, and looking after yourself. And what I mean by that is keeping that kind of gym going or going for a run where you can distance from the busy life that's business. Yeah, if I'm honest, I didn't do that very well as I was growing the business. And many entrepreneurs will say the same thing.

17:19You know, we're running the business and focusing very much on that and then growing families as well. So I think I was very, very lucky that I had a great family around me from family, parents, wider family and my wife and the children. And that really helped me and supported me. They were completely supported. And that's allowed me to spend a bit more time with them. We try to get away. But, you know, like everyone, I was on holidays and I was on the laptop and doing emails in different parts of the world. It's a myth, isn't it? That balance. Yeah, I think as you're growing a business and scaling, and especially when it becomes a large business, you're going to have to go through a lot of that stuff.

17:59But I get the rewards of that now, where I can really follow my passions and do the things I want to do. And for me, that's helping other people. When it's time to scale your business, it's time for Shopify. Get everything you need to grow the way you want. Like, all the way. Stack more sales with the best converting checkout on the planet. Track your cha-chings from every channel right in one spot. And turn real-time reporting into big-time opportunities. Take your business to a whole new level. Switch to Shopify. Start your free trial today.

18:36Experience a membership that backs your business journey with American Express Business Platinum. When you pay with membership rewards points for all or part of an eligible flight booked with a qualifying airline through Amex Travel, you can get 35 % of those points back, up to 1 million points back per calendar year. American Express Business Platinum. There's nothing like it. Terms apply. Learn more at americanexpress.com slash business dash platinum. them. I feel that the graph, the time you put in invested as a younger version of you allows you to thankfully didn't burn yourself out because that's probably where I was going with it and actually so understanding that I'm reflecting on that now.

19:18Yeah. Do you have a morning routine where you do get the exercise in and prioritize that kind of physical fitness? I do and I would say I would give advice to a lot of youngsters on that make sure you do that life work balance is incredibly important. And when you get a bit older, you realise that. So build that in much earlier in your lifetime. And I do that now. I'll get up quite early. I'll read the papers and watch the different channels I watch for the news and things like that. And then probably usually go for a walk or a run before I start my day. So it clears the head. It's important to cover that, isn't it?

19:51That mentoring piece that you're giving to younger people that are so aspirational, they can sacrifice health to get the next goal achieved, the next, you know, whatever's on their list from an entrepreneurial point of view. Yes. And then, of course, that can catch up, will you? It can. It can. I think it's really important. Patience is very key for when you're an entrepreneur and that resiliency we talked about. Yeah. Your family fleed Uganda when you were only six years old. That must have been incredibly stressful, particularly for your parents. I wonder how much of the seriousness you really understood about that at the time and how it was framed.

20:26Yeah, I think it was very serious. And of course, we were fleeing for our lives because Idi Amin, who was the president, they were shooting people and we had 90 days to leave Uganda. But I think probably didn't understand so much about the Uganda piece. That's when we got here. And I came here as a young six-year-old boy, not speaking English and spent quite a few years just learning English and getting into that. So I was always behind other people because I was still learning from scratch and stuff like that. So that's the bit I remember the most. But in Uganda, it was really panic and people trying to get out.

20:59And luckily, my mum and the three children, very young children, me being the oldest, came here. But my dad, again, was helped through an aid agency to go to another country. And then another charity helped him repatriate with the family. So it was, you know, the whole family got separated and came back. So it was a very difficult time. Thank you for sharing that. I know from a previous conversation we've had where we talked about success and the association of wealth almost makes you feel uncomfortable in a very non-arrogant way. But the things you've achieved in business, the positions you hold where there's such mission-led importance to you.

21:33Sitting here now, what is your definition of success? I think success changes or definition changes as you go through your life. I mean, when I was young, it was really about getting an education and And that education was my way out of poverty. So that was probably success for me. And I did a degree, then I did a PhD, and I went on to do other research and things like that. And then as you start, it's the corporate world. And then you go on, start a business. And that was really about growing the business and the responsibility it brings about having people working with you. And, you know, their livelihoods and all of that stuff.

22:05So it was really about managing the business, keeping it a strong, profitable business so that the people we were employing could have their lives and raise their children. And that was a big part of the success. Today, it's really about, I would say, really helping other people, giving them the opportunities that I've been given, which we started with nothing. And I think that's success. And if I can do that now, then it's been a successful life. Yeah, I can feel that. That's proper passion coming there. And another question that's slightly similar, there's a lot of things you've achieved with OBE and all the different milestones in business and, again, positions you've got now.

22:44What would you say is your greatest achievement? Well, my two children, I would say it's incredible what they are. And I would say also, you know, it was the Red Cross who got us out of Uganda when we left as refugees. And very early on in the business, I wanted to make sure that we could work with international aid, because I saw over my 30-year career of traveling around the world and what kind of work they were doing in these countries when there's an Ebola crisis or there's an earthquake. And we wanted to work with them very early on, and I got a contract with a UN organization. And I'm really proud to say that for over 25 years, we became one of the leading suppliers from the UK of medicines to these countries, which was saving lives all over the world.

23:24So these were high quality medicines from the UK, cost effective going out through UNICEF or Red Cross or MSF into different parts of the world. And that's something I'm very proud of, I think, in my business life. Well, that's something that you've enabled through endeavours of your own to put yourself in a position to help so many other people. We keep coming back to that in this conversation, which is brilliant. Why would you say that there are so many people out there that have achieved a certain amount of wealth and success? and keep it all. It's almost like a fear of losing their money and don't in any way do anything like what you're doing to help so many others.