If you’ve ever felt that starting up a business could be done, and done quickly but is just lacking the funding to do so, Mike Baur may be your new best friend. Mike Baur is a longtime investment banker that who worked for several prominent European banks including UBS and a large private Swiss bank. Baur loved his job, advising clients on investments and different account options, but he became interested in investing in startup businesses that needed some capital to get going. So that’s when he began his new organization, the Swiss Startup Factory.
Based in Switzerland, Baur has worked closely with other major businessmen and investors to get this new incubator off the ground. Recently, Michael Hartweg joined this venture, a long-time derivatives advisor who also saw the potential in new business startups, and joined Baur as a venture capital provider to the new businesses. Also joining Baur and Hartweg is Michi Frank, CEO of the Goldbach Group who is also partnering with the SSUF in an effort to give the company continuous funding and bring more investor interest into the fold.
So how exactly does the Swiss Startup Factory work? A selected group of candidates who have a knack for business and are accepted on the SSUF’s application list, are then invited for a 3-month session in Switzerland where they are introduced to the investors. They are given coaching and mentoring for their business ideas. The candidates are not given an easy ride either, they are taken through multiple exercises involving both physical workouts and mental activities that test their patience and ability to work under stress. Know more about Mike Baur at founderstories.com.
Once Baur and his team of business coaches feel the candidates are ready, they have demo day to present the business in its completed form and are then given some tools to help get their business started. Candidates are given support and office space and equipment with which to test their business idea with, and once it’s ready to go, they can start making a profit from sales and services. While not every startup fostered at the SSUF goes on to be an immediate success, Baur still believes it’s worth the risk to give it a chance.