According to Mike Baur, many people wonder whether they have what it takes to start up a business. Some of the questions include whether they can recognize a good business idea and whether their startup can succeed. Mike Baur has decided to share ideas on how to manage startup companies. Mike Baur is based in Freiburg. He is one of the two co-founders of Uber. One other most interesting company he co-founded in the recent past is the Swiss Startup Factory. The company is an investment accelerator that the pair uses to assess and extend expert advice and financial support to such startups. Mike Baur says that he is also actively involved, along with his co-founder in helping the startup companies to establish the important business connections. Mike Baur is 42 years old. He has been noted as one of the most important Swiss investors in recent time. Mike Baur was recently interviewed regarding his investment choices and about the Swiss Startup Factory.
Interview with Mike Baur
Mike Baur was asked to share how one can midwife a good idea and transform it into a great business venture. He replied by saying that such ideas often come home by themselves. He says that when ideas are spontaneous, they tend to be better than what one goes out in search of. He simplifies it by indicating that innovation grows out of a situation of need. He says that when a product is needed and can’t quite be found, it triggers thoughts on how it can be made available. Mike Baur and Max Meister have helped the world of investment with their unique investment skills by infusing their expertise in startup companies. They are the brains behind the Swiss Startup Factory. The two entrepreneurs are the brains behind the successful convenience taxi service called Uber. So far, the Swiss Startup Factory has extended funding to numerous upcoming entrepreneurs. They have also provided the requisite training to make sure that they minimize the chances of such startups failing as result of lack of skills to manage startup businesses. The two investors and business partners were interviewed. They accepted to share their experience in the world of investment.
The Interview with Max Meister
In the interview, Max was asked why he decided to venture into business. Max Meister says that he noticed the gap on the market and decided to fill it. He said that he made sure that he outlined his mission and objective before he started off. He summarizes by saying that it is a story he keeps sharing with entrepreneurs that he recognized his placement in filling such a gap and took up the challenge. He said that he was inspired by his expertise and skill in entrepreneurial ventures. He said that he was inspired by the urge to participate in startup ventures for a long period in his investment career.
Mike Baur at one time was being coached and trained to become a successful bank account advisor, but now he’s coaching and training people on what should be done to build a business from scratch. He founded the Swiss Startup Factory as a hub for combining entrepreneurs’ ideas with business investor goals, and it’s become one of the hottest companies in Switzerland for generating new jobs. But Baur wants to go beyond just putting startups in the market to building sustainable companies that will last for years. He believes to build a sustainable business, you have to follow three philosophies.
First and foremost, forming and growing a startup never comes through chance opportunities. The entrepreneur has to do the work to lay the foundation for the company and be a part of a network to get the funding and get the technical support to make it happen. Second, Mike Baus talks about the need to take risks and just what those risks are. The risk isn’t necessarily starting the company in hopes it succeeds, but rather it’s what you do once it’s running such as what you prioritize your company spending on, or new products you decide to put into circulation. And finally, Baur says adaptability is key because at some point the industry your business serves is going to change, and whether you’ll survive that change depends on your ability to adapt.
Mike Baur loves his job as Chairman of the SSUF because things are always changing and he meets others who share his enthusiasm for startups. Prior to that he worked in banking and though he was happy with that career at first, it later became a maze of red tape that he grew tired of working around. He had been told as a young apprentice in commercial banking at UBS Bank that he could follow a chart mapping out his career and he would reach a wealthy retirement at the end of it. Instead, after seeing the problems come out of the 2008 crisis, Baur decided it was time to go elsewhere with his work. Baur ignored the words of individuals who told him the government was already supplying business grants to startups saying his plans for a privately-owned accelerator were not needed. Upon the SSUF’s launch, the interest in its program by startup owners was overwhelming. To this day, hundreds of startups have gone from early stage to fully running.
Mike Baur is a Swiss based entrepreneur who currently owns a company known as Swiss Startup Factory. With this company, Mike has been able to help a number of businesses get the guidance they need in order to reach their full potential of success. His company helps businesses by providing funding, coaching and mentoring. As a result, many businesses have been able to excel on a regular basis. Before Mike started up Swiss Startup Factory, he invested in startup businesses for many years. This allowed him to make lots of money as well as gain first hand experience with startup companies. Along with being involved in startup investing, Mike also had a successful career in banking as well.
At the very beginning of his business career, Mike worked in the banking field where he would provide assistance to numerous startup companies. He would talk to entrepreneurs about their goals and discuss funding options. Since many entrepreneurs needed money to start up or expand their businesses, Mike would help provide feedback on how to best get the necessary financial resources. Mike would evaluate each business and their financial situation and give them loans. This enabled a number of businesses to get what they need to reach their goals more easily. Baur would also give each business advice on how to manage their debt and the rest of their finances too.
Baur would leave the banking industry to pursue startup investing. This new venture gave Mike a great opportunity to make a considerable amount of money. It also allowed him to get lots of knowledge about new businesses as well. Over the course of ten years, Mike would invest his own money into numerous startup businesses. This allowed him to earn high returns which helped improve his level of wealth. By getting a lot of experience investing in startups, Mike would learn just how lucrative these businesses can be. He would then use this experience to help start up his own company Swiss Startup Factory.
With Swiss Startup Factory, Mike has been able to build a company that has helped make a positive impact on the Swiss economy. His company has provided a number of entrepreneurs with the assistance they need to build successful companies of their own. His company works by holding an event where entrepreneurs can pitch their business idea to Mike. He will then go over the ideas and decide on which ones have the most potential for success. Mike then selects these businesses and begins providing assistance such as funding, consulting and mentoring.
Entrepreneurship is a broad area that offers endless possibilities and assures endless opportunities if pursued with an open mind. Mike Baur is among professionals whose passion for entrepreneurship saw him exit banking in 2014 and he is now happy to have made the decision. Mike is celebrated by many young and rising entrepreneurs for offering them a platform where they can launch and nurture their ideas. Through the Swiss Startup Factory, Mike Baur has managed to incubate more than 30 startups since the program was established in 2014.
The program offers a three months incubation session where startups are allowed to learn the basics of running a business and they also benefit from ideas that further help them to develop their products. The Swiss Startup Factory has been working with highly experienced professionals who come up with unique ideas that shine light to the problems that many startups face.
Digital business strategy
Having a strategy for entering the current business world is the first step any entrepreneur should take to avoid getting into losses. Regardless of how unique an idea seems, the competition available in the market is no easy road to walk and only those who are creative and strong enough survive the challenges. That is why the Swiss Startup Factory emphasizes on startups understanding the digital infrastructure and implementing the ideas that are ideal to push for development and attainment of success.
The accelerator programs
Most importantly, the Swiss Startup Factory runs accelerator programs that are designed to equip the startups with special skills that help them to push through challenges in the market. This phase includes processes that allow the startups to learn about the market and the product they seek to present.
After the accelerator, the Swiss Startup Factory offers a post accelerator package that ensures all the information shared during the incubation period is incorporated in the running of the startup. Mike Baur is confident the program will take in more startups and mold the next big businesses of tomorrow. Currently the Swiss Startup Factory is the best-ranked Swiss incubation facility.
It has been offering solutions through experts and resources sourced from leading universities from across the country. With such support and a great platform, Mike Baur has received a lot of praise from different entrepreneurs.
Mike Baur is a well-known entrepreneur in Switzerland. He is a founding partner and a managing partner of Swiss Start-Up Factory, which is one of the best privately financed and independent ICT Startup Accelerator in Switzerland. Mike holds an MBA from University of Rochester and also an Executive MBA from University of Bern.
Baur’s hometown is Fribourg in Switzerland. As early as his teenage years, he had an interest in the subject of banking and finance and he was able to make his passion into his future career.
In 2014, 39 years old Baur quit his job in order to start his own entrepreneurial journey. Together with two other partners, Max Meister and Oliver, Baur founded the Swiss Start-Up Factory. The Swiss Start-Up Factory aims at Fintech companies and it also has plans to launch an Accelerator Program. The Swiss Start-Up Factory is in a partnership with Geneva-Fintech Accelerator Fusion to work together in order to launch the accelerator program.
The former banker at Clariden and Sallfort took part in the founding of SSUF because he wants to support and mentor young entrepreneurs specializing in digital technologies. Baur’s aim is to coach young entrepreneurs and equip them with the skills they will need in order to be successful entrepreneurs.
The Swiss Start-Up Factory came into a partnership with Michael Hartweg, a well-known investor in the areas of technology, sports and finance. Hartweg is also the co-founder of the Fintech Leonteq Company. Hartweg will help the SSUF in the selection and evaluation of startups especially, from the Fintech area.
Mike Baur believes that through the partnership with Hartweg, SSUF will strengthen the innovative power and expertise in the field of Fintech in Switzerland. Hartweg will have a core task of supporting the selection and evaluating investments that will enable startups to network with selected partners.
Mike Baur is behind the fundraising and financing at the Swiss Start-Up Factory. The Zurich based-accelerator company runs a three month long startup accelerator program. The program offers coaching, mentoring and services to young entrepreneurs. The program also offers very useful entrepreneurial networks that help young entrepreneurs achieve their ambitious goals.
In 2016, Swiss Start-Up Factory partnered with CTI and Mike Baur was named as the deputy managing director of CTI Invest.