The huge financial institutions and the archaic systems they stand behind, as well as the fact that there is an enormous amount of money at stake has cultivated a new area of growth in the financial industry. The FinTech companies that seem to be popping up out of nowhere are easing the payment processes, saving users money, reducing fraud and promoting a new way of financial planning, and that is stimulating the interest of people all over the world.
One former Swiss banker, Mike Baur, is astutely aware of what FinTech companies are doing to the banking industry. Baur spent 25 years in the Swiss banking industry, and he was good at it. Baur was so good he developed a list of clients that stuck with his investment advice for years, and they were happy they did. But Baur had bigger plans. Mike Baur was born to manage his own business, and when he found the right vehicle to manage, he jumped at the chance.
While Baur was working for Sallfort, the equity investment firm, he noticed that several new tech companies couldn’t get the help they needed from banks and other investors because there were parts missing from their concepts and ideas. Baur told a news reporter that he decided to help companies that had excellent ideas but were missing things like solid operational experience, or human resource knowledge. Other things like networking capabilities and a lack of investor financing hurt some of the other companies that Baur thought could be profitable if they followed the program he established in his new company, The Swiss Startup Factory.
The Swiss Startup Factory gives new companies the expertise they need to move to the next level in their industry. Baur’s company offers a three-month accelerator program that provides office space, office equipment and a series of intensive courses in financial management, accounting, networking and investor information. Most of the companies that complete the program start to see results in their balance sheets almost immediately.
Baur has been offering the Swiss Startup Factory programs for the last two years. The word spread that there was a company that could help new startup companies turn their concepts into interesting solutions for simple challenges. Most of the companies that complete the Swiss Startup program are doing business in Switzerland, but they have plans of expanding into the global market. Baur said showing companies how to compete globally is the main goal of the Swiss Startup Factory.