Investing in startups is courageous choice of investment that many investors tend to avoid. This is because it is an investing opportunity with inherent risks and uncertainties. When executed wrongly, it could lead to significant financial losses. However, business startups have many documented stories of success. A significant number of best performing companies today were once startups operating from cramped spaces, some with no decent office space. With the right connections and proper funding, startups have the potential of growing into viable businesses. Startups are rich grounds for promoting creativity and innovations. While many investors seek to purchase successful startups, a Swiss entrepreneur, Mike Baur, has come up with an innovative way of promoting startups growth and development. His approach challenges the common practice and norms remodels the concept of startup funding and development.
Remodeling and Challenging Startup Conventions
The common practice in dealing with startups is letting the aspiring innovators and entrepreneurs struggle with their idea then when it finally amounts to something buy them off. In some cases, multinationals and rich investors buy the ideas including the patents are relatively low prices then end up selling them for billions of dollars. However, Mike Baur is actively challenging this common practice. To challenge this common business model when it comes to dealing with startups, he has invested in a program aimed at promoting the growth of startups through networking, mentorship and coaching innovators. This program is aimed at instilling confidence in the innovators while also giving them a head start in the highly competitive marketplace by giving professional connections and an office space to operate from for a given period of time.
After working in the Swiss banking sector for two decades, Mike Baur teamed up with like-mindedness individuals to realize their dream of forming a factory for startups. The company they founded, symbolically named Swiss Startup Factory actively incubates startups selected from across the country. In addition to coaching, mentorship, provision of office space and networking, the company the complete package for its three-month program by financing the startups under its program. Mr. Baur oversees the company’s transparent selection process, occasionally serving a judge during startup contests. These events are organized all across the country especially in learning institutions.
From Banker to Mentor
Before opting for incubating startups, Mike Baur had a successful career as banker. His 20-year experience in the banking sector saw him work for some of the biggest banks in the industry. Currently, he serves as part of the management team of Swiss Startup Factory and director of Swiss Startup Association. He graduated from University of Rochester with a Masters of Business Administration and University of Berne with Executive MBA.