How Mike Baur Is Leveraging His Banking Experience To Help Swiss Startups Succeed
One of the many things that technology has done has been to open up economic possibilities that once weren’t available to people looking to build their careers. Startups like Uber have made it possible for people to easily arrange transportation for themselves and have options for transportation beyond buses, the subway or personal cars. Uber has also created job opportunities for the technology professionals who code their app and keep it running and online. Companies like YouTube have made it possible for content creators to easily post and share their videos and build a following and income while doing so. It also employs a number of programmers and engineers who make sure that the people who go to YouTube’s website to see their favorite internet personality or favorite music video are able to have the best user experience possible. Swiss entrepreneur Mike Baur is working to create opportunities for technology professionals in Switzerland. Like many people who find themselves in the world of technology Mike Baur actually got his start in a totally different industry. One of his very first positions was working for a global bank called USB.
While on the surface it might not appear that banking has a strong connection to tech startups that often employ coders and growth hackers, finance is actually a great way for an aspiring tech entrepreneur to get experience. This is because bankers like Mike Baur know how to answer the biggest question that every startup must determine how to answer: where will its founders get the money to translate the ideas in their pitch decks into a thriving tangible business? More than a few founders in the startup world choose to do what is known as bootstrapping one’s startup, which often involves operating on a shoestring budget and funneling investment dollars from one’s own bank account or from family and friends. Many startups choose to try to raise capital to fund their ideas. They often do this by brokering relationships with venture capital firms, angel investors and other entities that are able to direct capital to them. This is where professionals with Mike Baur’s experience can come in as working in the banking world can often require a deep knowledge of how money and the financial ecosystem works. Baur can leverage that experience to the benefit of his own businesses and to the benefit of other startup founders who might not be as knowledgeable about the world of finance as it relates to their industry. In addition to working for banks like USB Mike has also studied business administration in the United States and has helped to launch the Swiss Startup Association.