Mike Baur, was thrust once more into the spotlight when he became a founding partner of the Swiss Start-Up Factory in 2014. He recognized a hole in the marketplace that an accelerated start-up company would fill in nicely. Baur took his idea and ran with it so to speak while the opportunity was an option. His idea to start the company was birthed from his personal experiences as an early stage start-up investor.
People told Baur that his idea was ridiculous. Many people did not think a startup company was necessary since the Swiss government had existing programs in place to aid new businesses. However, Baur tuned out the negative voices and chose instead to rely on his instincts and, his two decades of Swiss banking experience. Although, the competition for start-up companies in his region were incredibly rigid Mike Baur and his two partners refused to be deterred. The first two years of operation, Baur and his co-founders refused to take a salary and to privately finance the Swiss Startup Factory which is now the number one privately financed accelerator in Switzerland.
The Swiss Startup Factory, the golden startup machine, was created with the intent to train investors in a boot camp of sorts, and to provide a business execution platform; that in return would greatly improve the quality of early stage startups in Switzerland on a grand scale. The Swiss Startup Factory hosts a three month long program for flourishing digital entrepreneurs which includes coaching, mentoring, an office location in Zurich and numerous other services that extend well beyond repetitive, antiquated teaching modules.
Searching for holes in the marketplace and new ideas can be challenging.Mike Baur is an avid believer that good ideas do not have to be sought but they will find you. Baur recommends producing a minutely available product, testing the product in the market and waiting for feedback and validation of the results. Every idea may not be a good idea but failure is a part of success. According to Baur, “Long dry spells are everywhere. And it is precisely in those phases that the wheat is separated from the chaff. These phases separate those entrepreneurs who really want it from those who do not really want it. If you overcome this dry spell, you emerge stronger from it – as an entrepreneur and as a person. As motivation it is enough to know that.”