It is every wealth manager’s aspiration to have a corner office at Clariden Leu, one the most prestigious leading international Swiss banks. Mike Baur, did the unthinkable, however, by tendering his resignation letter at Clariden Leu in 2014. Baur was giving up on a posh lifestyle defined by million dollar bonuses and all manner of tentative peaks, as well.
The ambitious 30-year old ventured into the private sector to pursue his passion of teaching the next-generation of tech investors., Baur held several high-ranking positions at another Swiss giant banker, UBS since joining in 2008.
What Made Baur to Quit?
According to Baur, the banking realm lost all its allure and appeal after the global recession of the late 2000s. The economic debacles culminated into an introduction of a barrage of red tape bureaucracies in the finance sector and, that made it nearly-impossible for bankers to function, leave alone, prospering.
Networking and Collaborating Space
In 2014, Baur used his personal wealth to set up his first private startup accelerator growth firm, Swiss Startup Factory. Ideally, Swiss Startup Factory provides aspiring tech innovators and investors with a holistic space and environment to nurture and grow their startup ventures. Young tech investors flock to the firm’s spacious hubs for the free office spaces complete with Wi-Fi. The spaces also give an excellent platform for these entrepreneurs to network and collaborate with others. Students at Mike’s academy receive intensive training and mentoring to prepare them for the real-life investment world.
The lucky students at Baur’s academy learn the intricate art of raising capital. Mark clearly understands the financial challenges prospective tech entrepreneurs ran into as they create startups. The young innovators take practical courses to familiarize themselves with tax and compliance issues on their upcoming startups. In 2014, Swiss Startup Factory held a pitching competition that was attended by 30 global investors and founders of successful startup ventures.
Mike Baur is a veteran Swiss banker who gifted the world with the award-winning business incubator, Swiss Startup Factory. Mike’s outstanding banking career spanning roughly two decades saw him serve in high-profile positions at UBS and Clariden Leu. In 2014, Mike, an astute investor, and philanthropist came together with Oliver Walzer and Max Meister to set up Swiss Startup Factory.
SSUF, as the company’s abbreviated was primarily designed to help eliminate the obvious financial constraints and managerial hurdles young innovators face as they build their companies. In 2016, SSUF merged with another startup accelerator firm, CTI, with Mike Baur been named as the new deputy managing director of the formed business incubator. Later, CTI signed off on a partnership deal with Fintech Fusion.