Empowering Young Tech Entrepreneurs by Mike Baur

Born in Fribourg Switzerland, Mike’s fascination in the subject of banking and finance began when he was a teenager. In 1991, he began as a commercial apprentice at the Union Bank of Switzerland at the age of 16. Here he worked his way up to become an executive board member of the Great Swiss Private Bank. Mike continued to work for UBS throughout the 1990s where he provided advice to wealthy Swiss investors. Despite the overwhelming success, Baur quit working at UBS and joined ClaridenLeu Bank where he held a high-ranking position for six years. Though he received a generous compensation, the banking environment seemed less appealing to him. At that time, bankers had to devote lots of time to work, but Baur wanted to focus on his new passion- mentoring young tech entrepreneurs. At the age of 39, Mike quit the lucrative career to begin his entrepreneurial journey and with the help of two partners, Olivier Walzer and Max Meister, they founded the Swiss Start up Factory. Today he is a Swiss entrepreneur, businessman, and the co-founder of the startup company. Baur has an MBA from the University of Rochester New York and an executive MBA from the University of Bern. Mike was named the deputy managing director of CTI Invest after Swiss Startup Factory merged with CTI. He spends lots of time mentoring the Swiss youth and supporting many Swiss startups financially. For example, he participated as a jury member at a start-up pitching contest held at the University of Gallen-START Summiteer.

 

About the Swiss Startup Factory

 

Launched in 2014, Swiss Startup Factory is a Zurich-based Accelerator looking to support thriving digital entrepreneurs. It is the first independent and privately funded ICT Startup in Switzerland. The program boasts an extensive entrepreneurial network that provides a unique platform for services like coaching, financing, and mentoring. The startups benefit from access to rent-free offices in Switzerland’s biggest city. Each enterprise receives three months’ worth of assistance where the young entrepreneurs learn how to market products and services and network with others. The educational process also helps them learn how to obtain finances from potential investors, thus increasing the likelihood of long-term success. Swiss Startup Factory encourages them to join pitching contests. The START Summiteer competition, for example, enables founders of thirty new initiatives to pitch their products, business plans, and models. A group of experienced financiers evaluates the startups, rates them, and decides the winner. The most promising companies may attract funding from potential investors.