Eric is the co-founder of Tempus where he is also serving as the Current CEO. He does not stop there, though, and like the serial entrepreneur that Eric Lefkofsky is, he has also been involved with other companies that include:
- Groupon where he is a co-founder and the Chairman
- Echo Global Logistics where he is a co-founder
- Lightbank where he is a co-founder
After all these years since he started off like a carpet selling boy at the campus, he has indeed worked hard to get to where he is right now. This is a testimony of just how capable he is to do what he does.
He attended school in Michigan where he was raised, and he was able to graduate from Southfield- Lathrup High school and then went on to attend the University of Michigan, and he graduated with honors in the year 1991.
In 1993, he earned his Juris Doctor from the University of Michigan Law School. He is a capable academic with the brilliant mind to build and just keep building because he has enjoyed success everywhere and more information click here.
He was at the University f Michigan where he was selling carpets when together with his friend, they started Brandon Apparel which they later sold to StarBelly where he went to work as the Chief Operating Officer until StarBelly went bankrupt and faced lawsuits.
He went on to form the following companies:
- InnerWorkings in 2001 and he has been with this one ever since as the board director until 2012.
- In 2005, with his friend Keywell from back in the University, they created a logistics company, ECHO which then went public.
- In 2006, they then again founded MediaBank, a technology company that buys media. It usually works to provide advertising buyers with the aspects of;
- Analysis of software
- The buying process
- The finance and account management
- He also formed the company Groupon which was originally called The Point. This was then named by Forbes as the fastest-growing company in history.
It was rated by Forbes as the fastest-growing company since Google, and they even turned down an offer from Google of $6 billion.
In 2012, Media Bank was merged with Donavan systems, and they became Mediaocean in a deal estimated at $1.5 billion and contact him.
With his wife, they formed Lefkofsky Foundation which supports education and scientific achievements. Tempus was founded to enable physicians to provide personalized care for cancer patients.
Many startups are initialized with minimal structures to support growth, something that exposes them to failure. Mike Baur is offering alternative solutions to young entrepreneurs who find themselves in such scenarios. Through the Swiss Startup Factory, which he founded in 2014, he is offering a three months incubation program, where talented startups are able to go through the basic principles that power a business to succeed in the market. The Swiss Startup has so far sponsored over 50 startups and currently stands as the biggest and most successful incubation facility across Switzerland.
Before launching the startup, Mike Baur had served in the private banking sector of the country for nearly 20 years. At the young age of 39 in 2014, he resigned from banking to start his journey in entrepreneurship. So far, everything has been a success and his incubation program has succeeded in supporting many talented startups to become successful businesses. During the three months, the entrepreneurs are taken through rigorous training and incubation to ensure they understand the market and forces that inspire the growth of a small business.
In the current digital world, it can prove challenging to compete if the business does not follow the right digital trends. Before any changes occur in the market, a prudent entrepreneur should prepare and also be in a position to make predictions using data collected from the market. The Swiss Startup Factory allows young entrepreneurs to understand how they can use various types of data to plan their digital strategies well and to position their businesses in the path of growth.
Laws that govern business are a vital resource in its growth and could, on the flipside, affect its growth negatively. Understanding the legal aspect of running a business eliminates the possibility of failure and this is one of the things the Swiss Startup Factory considers vital while incubating startups. All startups are taken through legal education to understand the legal boundaries that must not be crossed and to also get insight into managing legal affairs.
More about Mike Baur
Mike Baur is a successful Switzerland entrepreneur, who was born and raised in Fribourg. When he was a teenager, he dreamt of becoming a good financial expert and this motivated him to pursue finance and banking. He pursued his career in banking for over 15 years and in 2014, he exited the industry to become an entrepreneur. He launched the Swiss Startup Factory in the same year to support young entrepreneurs in the country.
Mike Baur is a renowned Swiss entrepreneur, who also worked in the private banking industry of the country until 2014. To help startups access the right materials for growth, Mike Baur launched the Swiss Startup Factory in 2014 and the company has been supporting upcoming entrepreneurs by availing resources for growth and financing.
To make the program beneficial, Mike Baur has partnered with several top universities in the country to bring closer resources that can help the startups to grow. The Swiss Startup Factory runs a three months incubation program and there is post accelerator support that runs for five months once a startup begins operating on its own. The idea behind the post accelerator support is to ensure startups are overseen through the growth process and that all the ideas shared during the incubation period are implemented accurately.
The Swiss Startup acceleration program runs for three months and the company takes two batches, in January and September.
During the three months, startups measure, build and learn about the industry and they are able to reach their ambitious milestones if all the information shared is implemented. The Swiss Startup Factory also offers a demo day where the startups are introduced to market dynamics.
The process of coming up with an appealing and useful product requires a lot of research and creativity. There are many companies that sell products similar to the one a startup could be introducing, so one needs to present something unique to stand out.
This is one of the areas the Swiss Startup Factory reviews to assist startups in the product development process. The startup is offered suggestions that lead to an improvement on the existing product and to make marketing easier, they also assist in branding.
Marketing is a vital element in running a business that one cannot ignore. You need to engage proper and focused marketing to allow a business to emerge successful. Through the Swiss Startup Factory, startups are given marketing and IT support that help them to easily get their products to the market. Mike Baur has invited leading marketing firms and professionals in the area, who offer invaluable support to help the startups embrace the market without having to spend a lot.
Swiss Start-Up Factory is a Zurich-based company that specializes in assisting entrepreneurs with a bias in technology. It was founded in 2014 by Mike Baur and his partners. Mike Baur has proven to be a force to reckon with in the IT sector. He has made great accomplishments in the past two years that his company has been in operation that has made him get recognition from within Switzerland and beyond.
Mike’s grew up in Fribourg, Switzerland. As a young student, Mike Baur was fascinated with Banking and Finance subject which motivated him to become a banker. He worked hard and followed his dream becoming a banker and working in the industry for about twenty years. As a banker, he thrived and was promoted to a member of a board of a reputable Swiss Private Bank when he was at the helm of his career. He is an MBA holder which he studied at the University of Rochester New York as well as an executive MBA which he obtained at the University of Bern.
Currently, Mike Baur he has thrown all his weight behind his brainchild; SSUF. He is tasked with the responsibility of financing rounds and fund-raising. He donates to the company and also mentors entrepreneurs. Mike has a wealth of knowledge in matters finance and business management owing to his background in the private banking sector. He shares his wisdom freely with others. Some of the tips that he has been sharing include;
• It is important for start-ups to create a great team that consists of competent individuals with diverse skills.
• Start-ups should also take sales seriously
• They should conduct market research and listen to customers’ complaints and suggestions about their products and adapt them.
• Entrepreneurs should also be willing to go the extra mile and dedicate themselves to their vision. They should put in long hours and sacrifice leisure time.
• Entrepreneurs should also know how to deal with investors.
• They should also never give up and should believe in their ideas
• They should realize that having an idea is not enough but knowing how to execute it is what counts.
• Entrepreneurs should also be prepared to work hard because the initial process of market entry is rigorous especially when testing the market.
The Swiss Start-Up Factory has a great vision which has attracted other companies and joined forces with them to advance its dream. Some of these include CTI Invest which is a financing company of its kind that also supports creative startups in Switzerland. The two companies started working together late last year in December 2015. The purpose of the cooperation was to create a better environment for startups in Switzerland. The company appointed Mike Baur to be the Deputy Managing Director. There is also speculation that Mike might be the successor of the company’s existing managing director.
Fusion also joined SSUF at the end of February in 2016. It is a German company that is also interested in supporting startups. The two companies work together through the whole process of assessing entrepreneurs to market entry in the competitive SSUF’s three-month acceleration program.