Switzerland is one of the largest economies in the world. Thanks to the capability of the Swiss tech industry to provide thousands of jobs to the highly-skilled people. Swiss has benefited from all major innovations ranging from software engineer to “tech-preneurship”. This has enabled Switzerland to remain ahead of most countries in the world.
One question that lingers in the mind of experts is how Switzerland has remained innovative while other countries still lag behind by far. The difference is that Switzerland has invested in tech startups, unlike other countries. Today there are thousands of tech startups all over Switzerland. One important thing to note about the tech industry is that it’s dominated by large corporations. These corporations are not able to address all issues faced by the industry. The small companies, therefore, fill in the space left. They come up with solutions to address the common consumer needs. Once the consumer gain confidence in the startups, they start earning revenue.
Startups create a competition between the small companies and the big companies which in turn lead to more resources being channeled towards research and tech development. This ultimately helps the end consumer since their needs keep on being addressed. Startups usually concentrate on particular areas of technology. This means they are able to concentrate on one area and conduct thorough studies. This can result in revolutionary ideas that lead to huge growth in the industry.
Startups also have another benefit to the society. It creates confidence in entrepreneurs that they can also start their businesses and grow them into big companies. Startups inspire young people to turn their ideas into businesses through which they can earn huge rewards. They also encourage people that they do not have to rely on formal employment, they can start they own businesses and earn from them.
Professionals and business experts in Switzerland have recognized this important aspect of helping young entrepreneurs who have innovative ideas. One such professional is Mike Baur, of the Swiss Startup Factory. He helps upcoming entrepreneurs by mentoring and training them on ways to make startups grow. Swiss Startup Factory was started in 2014, by Mike Baur and his partner after he left the banking industry where he had served for close to 20 years. He had worked with the UBS and the Clariden Leu banks of Switzerland. Mike Baur through the experience he has in financial and general business management prides in helping a big number of startup grow into big companies today.