Mike Baur and Max Meister are the two co-founders of Swiss Startup Factory. They both sat down recently to talk about their company and how it is running a company that helps other entrepreneurs develop a new business. One question Mike Baur asked was what Max Meister thought about the competition which also offers Swiss business incubating services. The answer was that the competition is very good and very stiff. Competition for clients is cutthroat, he said, and a lot of them don’t ask for any equity in the company’s they are helping to build as well. Some even offer subsidies to their clients to get their business.
Max Meister was also asked by Mike Baur followed this question up by asking how it felt to be a privately funded startup accelerator competing against these subsidized competitors in the industry. Meister said that Swiss Startup Factory can’t offer deficit guarantees because those are too problematic. He said both of them didn’t take a salary for the first two years in order to free up money. They also found success fundraising money for their company because it’s a great idea and they have a lot of connections to wealthy investors.
Another question Mike Baur had was why their company uses the motto, “Where innovation meets execution”. Mike Baur had actually come up with this mission statement and Max Meister explained that while a lot of Swiss people have really great ideas they often don’t have the resources to follow through. Swiss Startup Factory provides them these resources and their company is trying to catch up with what is going on in other countries in regards to startup up new tech firms.
In his own interview conducted by Red Bulletin Innovator, Mike Baur talked about being an entrepreneur. He said it comes down to starting a company and then having things go sideways the key is to get right back up, analyze the situation, and the go ahead and fail some more, just try to fail a little better next time around. Eventually, people learn what works and what doesn’t he says, and this is a process every person must go through for themselves.
Mike Baur also said entrepreneurs need to quickly get used to long dry spells because they are going to inevitably occur. He says getting through these is what separates real entrepreneurs from those who just aren’t motivated enough.