Earlier this week, I met with the Greater Lafayette Regional Plan Steering Committee to lead a discussion on the entrepreneurial ecosystem in the Greater Lafayette area as part of a series of topic meetings aiding in the strategic plan development process. Our conversation can be broken up into four parts: 1) Why is a strong entrepreneurial ecosystem important? 2) What creates a strong ecosystem? 3) What is the current status of the ecosystem? 4) What strategies should be implemented moving forward?

From expediting online order deliveries to gathering aerial information of farmers' fields with previously unseen economic and technological efficiencies, the drone industry could be the root of the next commercial revolution.  Drones, also called UAVs (Unmanned Aircraft Vehicles), were historically developed for military use, but we will likely see their commercial use increase exponentially as global businesses are expected to invest nearly $90 billion in drone technology in the next ten years.  Even if you or your company is not on the forefront of drone technology development, you should be aware of the implications of using a drone in connection with your business (or even recreationally).  

If you operate anywhere in the life cycle of business startups (founders, angel investors, lawyers, accountants, investment bankers, other consultants, venture capitalists, strategic acquisition managers, etc) you should read Venture Deals by Brad Feld and Jason Mendelson.  This is the most practical, succinct and insightful book on the market about venture deals.