Getting a startup to grow from a basic position to becoming a successful business is a process that takes time and resources. In many instances, startups that are not led by individuals who are capable fail and find it challenging to rise back to their glory. This trend is what inspired Mike Baur to start an initiative that works with startups by helping them overcome the many challenges that come with running a business in the complex business environment. Mike Baur launched an incubation center for startups, which has been operational since 2014.
The Swiss Startup Factory has been supporting talented startups in Switzerland by offering an ample environment, in which they can come up with strategies that are inclined towards growth and stability. Mike Baur has managed to also get the support of several leading universities, which offer access to resources that are vital to the development of the startups. Additionally, Mike Baur came up with a solution to the issues of funding that hit many startups. He avails a team of investors, who offer support to the startup by investing in it if they are convinced it is worthy funding and destined to growth.
During the three months that startups receive support at the Swiss Startup Factory, there are several sections that are covered. Each section addresses specific issues and the entrepreneurs are allowed to interact with the market to understand how things work. In the accelerator package, they are taken through issues like marketing, accounting and law, which are vital to the development of a business. With this support, the entrepreneurs are able to emerge successful and their ideas grow easily to attain the standard they wanted initially when they joined the industry.
Post accelerator support
Support for the development of the startups does not end at the incubation period. After the three months, the Swiss Startup Factory offers follow-up sessions for a period of five months. The reason this is important is to ensure there is no interruption to the overall process and the startups are able to implement the ideas shared during incubation.
As a prolific entrepreneur and a successful individual, Mike Baur decided to also extend support startups by launching the Swiss Startup Factory. He joined the industry in 2014 after he resigned from banking at the age of 39 years. Today, his incubation facility is the biggest and the best in the country.