Business startups are important players in the global marketplace marked by technological adoption. They provide important conveyor belts where new and revolutionary ideas are relayed to the larger business environment. Most of the world’s leading innovations currently being sold by many large multinationals where once bright ideas and untested hypotheses. Individuals who come up with these ideas are usually young enthusiast operating from a startup from a small room or in the backyard. In most cases, once big companies get wind of these inventions they purchase the startups and their ideas. Currently, young innovators lack networking, financial support and financial support: their only hope is to come up with an invention that may thrush them on the limelight and attract the attention of donors and multinationals. However, Swiss entrepreneur Mike Baur has set on a mission to challenge the conventional business models guiding startups.
Mike Baur’s Remodeling of Startup Concept
Networking, coaching and mentorship are important pillars for growth of any business idea. Networking exposes entrepreneurs to a large swathe of professionals and individuals drawn from different backgrounds. It expands an entrepreneur’s scope of the business environment and offers a deeper insight into market trends likely investors. Coaching and mentorship instill courage and confidence in aspiring entrepreneurs while offering them firsthand information on how the market operates from established entrepreneurs. These are important ideologies that Mike Baur understood from the onset when he set out to change how startups are run in Switzerland.
In 2014, he co-founded Swiss Startup Factory with the primary objective of accelerating startup development. The company operates as an incubator for startups by offering them financial support and advice in addition to a three-month mentorship and coaching program. Additionally, the selected young entrepreneurs are also provided with professional networks and office space to operate in during the first three months of their operations. The company selects prospective startups through various platforms including startup contests where Baur sometimes served as a judge.
Education Background and Work Experience
Mike Baur holds a Masters of Business Administration (MBA) degree after graduating from New York’s University of Rochester. He also graduated from University of Berne with an Executive MBA. These qualifications were integral in his 20-year success in the Swiss banking sector where he worked for some of the world’s leading banks including UBS. He rose through the leadership ranks in the industry before shifting to entrepreneurship. He is actively engaged in the company’s management while also serving as the director of Swiss Startup Association; an organization he co-founded.