Entrepreneurship is the only way to accumulate wealth. Lack of direction and mentorship makes people to shy away from entrepreneurship. The hassle that is involved is not for the weak. Building a brand in an industry takes time, dedication, and resources. Economic resources are scarce because no product is tailored to the risks involved in entrepreneurship. Few people have the patience that it takes to build a product in the long run. Unemployment is a major crisis in many countries today. There are no educational institutions that offer training in entrepreneurship despite the fact that people are encouraged to venture into entrepreneurship. Mike Baur is a Swiss businessman. He has created an incubator for young entrepreneurs to be prepared for their journey.
Mike Baur is an experienced banker. This enables him to have access to quality economic resources for the young entrepreneurs. The incubation is in the form of an accelerator program. The program tests the viability of the product in the industry. It also equips the young entrepreneurs with skills. Young entrepreneurs are also given an opportunity to network with successful business people and learn from them. The young entrepreneur has a one on one mentoring time with the successful business people during the program. Mike Baur is mostly interested in the ICT industry. This is because of the potential of the industry and the needs that arise in the society today. This interest enables him to offer better mentorship for the ICT related products. This means that the people with ICT related products have higher chances than other start-ups. Everyone is exposed to the same opportunities during the program. They are given the same resources.
Mike Baur uses this incubator to expose the young entrepreneurs to a world of developers. He creates a network between the young entrepreneurs in Swiss and other nations. This gives them skills and exposes them to the potential market. They learn how to overcome different challenges from each other. This influences their capacity positively. The start-ups grow fast in a manner that is inclusive. People lack information and skills at times. Mike Baur has created a bridge to overcome this challenge. This should encourage other successful business people to team up and create incubators for young start-ups. This enables them to have an opportunity to invest in innovative products as investors. It also enables young entrepreneurs to have partners in their entrepreneurial journey.