Mike Baur is becoming a powerful name in Switzerland but it’s also becoming a household name for startups too. Baur has more than 20 years of experience in the banking industry, and when on Founder Stories, Jean-Pierre Vuilleumier asks him what makes this venture such a success. His vast experience in the financing and fundraising for his new venture is just one of the many ways in which he has created success for he and his partners. However, there is more to finance for this successful accelerator program designed for these startups.
The first question out of the gate was about why Baur left such a successful career in the banking industry. While it was a tough question, Baur was transparent about the fact that private banking wasn’t so exciting for him all of the time. He had the chance to do something different, and creating an incubation challenge for new startups was exciting for him. While he wasn’t sure at first how things would go, he wanted to invest in startups in Switzerland. The bottom line is that he saw a need and he was able to go in and solve the problem.
Secondly, Baur was wise to choose such a fitting name for this venture. The Swiss Startup Factory was appropriate, because the name appeals to the younger crowd and it conveys that young people are going to have to work hard. Baur feels that the younger generation may not always see just how hard it is to be successful, and that’s what he wants these individuals to see without fail.
Baur knows what it takes to invest, and he says that they have their skin in the game. He was conveying that they have their money and their time invested, so they are fully vested in what they are doing with the SSUF. Switzerland is viewed as a country of innovation, and when Baur noticed that they didn’t have any young and successful companies he believed that he could help. His vast knowledge and personal experience are a welcome contribution for the country, and he hopes that it will prove true for the SSUF long-term.
His goal was to invest in the fintech industry, which is a thriving industry right now on a global scale as digital technologies continue to be developed.