Earlier this month, I was given the opportunity to speak with an entrepreneurship class at Purdue University, regularly taught by Tim Peoples – who is also the Director of Entrepreneur Services and Programming for the Purdue Foundry. My goal going into this class was to give the students a basic understanding of the options and processes that go into forming a company.

If you are or have ever been through the process of raising private capital for an emerging company, you are well aware of the regulatory framework that seems to have been created to test your commitment.  When you raise money for your venture you are almost undoubtedly selling a "security."  The offering and sale of securities are regulated by both the federal government and each state which has jurisdiction. What this means:  when you raise money, the securities you are offering are either: (1) registered; (2) exempt; or (3) illegal.  Almost every new and growth stage company will rely on an exemption from registration which is an expensive process and offering illegal securities is not a solid business plan.  (Before you ask, there is no "friends and family" exemption.)

Though it may not get the publicity of cities like Chicago, Cincinnati, or Kansas City, Indianapolis is bolstering its own growing startup community. While nearby major cities hope to become the “Silicon Valley of the Midwest,” Indianapolis boasts a personality of its own – holding strong to classic Midwestern attributes of community support.

I started with Gutwein Law one year ago from January and the occasion prompted me to reflect upon the differences I experienced between the Chicago startup community and the startup community here in Indianapolis.  On a high level, it’s hard to deny the ubiquity of Hoosier Hospitality and its role in providing a foundation for support and comradery of startups versus the seemingly transient feel of Chicago’s startup community at large.  Here’s what I’ve noticed so far.

This blog was originally written as a guest post for Eleven Fifty Academy.

In the age of new technology, in which companies are spawning every day and an abundance of talent can be found in-house at many companies, developers and software engineers often consider doing work on the side – whether it be at a startup or personally starting their own business.  It is critical that these developers are aware of the limitations their employment agreements might place on them and any activities they carry out outside of work.  An individual’s employment agreement can often consist of a variety of contracts and clauses that affect side work, including the following:

As we head into 2016, it is no secret that startup culture is spreading beyond the coasts. Cities throughout the Midwest are claiming qualities that new companies are finding increasingly alluring. Thinking about startup hubs in the Midwest, a few cities come to mind: Chicago, Cincinnati, Kansas City, even Detroit. One city that might not be on many people’s radar is Lafayette, IN – and it should be.