Mike Baur has over the last 20 years honed his experience in the banking industry in Switzerland. He is a founding partner of a Swiss incubator company called Swiss Start-Up Factory AG. At the start up, he is responsible for sourcing for funds.
Swiss Start up Factory
This company was introduced to the public in 2014. It is based in Zurich and is an accelerator. It seeks out digital entrepreneurs who are thriving and passionate about what they are doing. From the moment these entrepreneurs are introduced to the factory, they are connected with exciting opportunities in Switzerland and around the world.
The program runs for three months, a period within which the new entrepreneurs are provided with empowering services. They are coached and mentored in the Zurich based offices. They are also connected with an entrepreneurial networkto help them grow.
Founder Stories Interview
In an interview with Founder Stories‘ Jean Pierre Vuilleur, Mike Baur says that the reason why he decided to name his incubator factory was because it is precisely what the company does. It builds and manufactures new Swiss companies. The second reason for the use of the name factory is that he wants young Swiss people to start working hard and stop feeling entitled to things in life. Hard work is typical of factories, which is what young entrepreneurs need to develop and design a product. He encourages young people to roll back their sleeves and get to the task of creating their own companies.
In the factory, there are two things that are actually taking place. The first step in the factory is what Mike refers to as prototyping and accelerating. This step is followed by shaping and proving the concepts.
Asked about what stands his incubator out from others, he says that his factory is an independent company with no political affiliation and therefore able to make its own decisions without being compromised. Secondly, he says that the partners and co-founders have invested in the company and are therefore determined to see it do well. This is not the case in many incubator companies where the founders invest their money in the startups sparingly so that in the event it collapses, they do not lose much.
The problem,Baur says, is that Swiss people are good only in innovating. Swiss people innovate, but cannot execute. The lack of assertive execution of concepts is what has denied the Swiss people many Swiss founded companies, according to Baur.