The Better Path Mike Baur Chose Than Banking
Not everyone would be ready to jump ship from an industry that’s traditionally known as being very lucrative, but Mike Baur did. Baur was once a banker for some of Switzerland’s top investment and commercial banks, the economy drivers that may now be taking a backseat role in the nation as opposed to being the economy drivers. Banks have seen a lot of changes to their structures and have seen their reputations become tarnished due to some unsavory business practices and growing distrust by the general population. But Baur has left that life behind to do something better by becoming an investor in business startups.
Baur launched his business incubator in 2014, the Swiss Startup Factory (SSUF). The SSUF is located in Zurich and is really a competition between some of the most aggressive entrepreneurs who are all vying for capital funding that could launch their business immediately. The program is three months long and involves both physical as well as mental endurance tests. Only the most innovative entrepreneurs can be accepted to this program, and out of them few emerge to the finals. But those who do are given office spaces and technology connections to get their businesses going right away. Baur has seen quite a number of businesses thrive since starting the SSUF.
Mike Baur at one time was taken to the office of a big bank manager who once told him that if he followed the plan on the chart, he’d have his whole career set for life. At that time he was a young man who enrolled as an apprentice at UBS Bank. Young men have started in banking apprenticeships before attending college in Switzerland, and Baur had the privilege of meeting some of the nation’s wealthiest clients while in this position. From apprentice he arose to become a manager and earned the praise of many of his superiors for his financial acumen.
Baur stayed at UBS until 2008 when the financial crash affected the bank, and he then moved into a higher portfolio management position at Clariden Leu. He enjoyed his time at Clariden Leu, but then amidst big changes in the Swiss banking industry this bank was closed by Credit Suisse who Baur went to work for next. He only stayed with this bank for a short period and decided it was time to abandon banking altogether. But the move would pay off after he found a market of new potential in young innovators, and soon he had laid the groundwork for the SSUF. Baur is a member on LinkedIn and has several other companies that he’s founded and posted on there.