How Mike Baur left the banking industry to venture in tech entrepreneurship

According to Wall Street Journal, Mike Baur joined banking at an early age of 16 years after graduating from Bern and Rochester Universities. The Freiburg born Swiss has led his life in business and entrepreneurship. There are not many people who started their working careers as Mike Baur did because he was an apprentice at the Union Bank of Switzerland in 1991 at I6 years. Baur worked in the banking Industry for the better part of the 1990’s and even before hitting 30 years, he was already promoted to the Advisory Board. He would offer wise advice to many wealthy Swiss investors including then country’s wealthiest people. However, in 2008, Mike Baur left Union Bank of Switzerland for Clariden Leu Bank having propelled UBS to high levels of success. He was posted to Zurich Office. During his tenure at Clariden, Mike worked for six years in a senior position at the bank. The wealth management advisor decided to throw in the towel in banking in 2014. He decided to follow his dream of helping new tech entrepreneurs.

 

 

Through his partnership with Max Meister, they founded Swiss Startup Factory in the same year he left banking, 2014. They had graduated together from Bern University. The reason behind forming the incubator program was to assist young business owners and technology startups to achieve their goals through mentorship and training. The incubator also helps the startup with funding and has benefited much from the availability of rent-free offices where it accommodates the trainees. The training program takes three months where the startups are educated on marketing techniques. Apart from being taught on how to get funds from top investors, they also connect with other tech entrepreneurs. The training programs benefit them on a long-term basis. Mike Baur ensures that his trainees come out of his mentorship program so much better than they were when joining incubator. He assures participants that they ideas are worth as long as they follow his mentorship program.

 

 

During the START Summiteer a pitching contest which was held in 2014 in one of the universities, Mike was a juror, and since then he encourages young startups to participate as a way of getting funding. The participants are given a chance to present their business ideas and the jurors rate them and decide the winner. However, the qualifying firms are those that have less than $1 Million in their project funding. Through Baur’s participation, Swiss Startup Factory won confidence from many investors.

 

 

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