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The state legislature also recently approved the $250 million Next Level Fund. Tech startups have also received more support from the state government, as evidenced by the recent push to exempt SaaS companies from sales taxes. Now a greater number of people are eager to work for or invest in startups, says Baggott.

At the time, Indiana didn’t adhere to Daylight Savings Time statewide, and the Indianapolis airport didn’t have a direct flight to San Francisco - both seemingly small things, but changes Dorsey said he pushed for as ExactTarget started to become a larger employer in the state. “You had to be a little bit crazy to join a startup,” Megan Glover - CEO of water-quality testing startup 120 Water Audit and a former marketing manager for a handful of Indianapolis startups, including Angie’s List - told VentureBeat. “Systemically, we weren’t really aligned to support tech,” Dorsey told VentureBeat in a phone interview, citing a lack of funding and organizations to promote the startup community. But excitement around tech companies had started to fade as the dotcom bubble burst.

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When ExactTarget’s three cofounders - Scott Dorsey, Chris Baggott, and Peter McCormick - started the company in 2000, the most recent big Indianapolis tech exit was Software Artistry, which IBM purchased for about $200 million in 1997. VentureBeat spoke with a few of ExactTarget’s cofounders and other members of the Indianapolis tech community to understand exactly how the startup community has improved and what resources entrepreneurs in the Hoosier State still lack. And as the company had 1,800 employees at the height of its success, we wanted to see where some of its former employees and executives have gone. But it’s still the area’s largest acquisition in recent memory. ExactTarget isn’t the only Indianapolis startup to have been acquired in recent years. With that in mind, VentureBeat decided to take a look at how Indianapolis’ tech community has changed, five years after the ExactTarget acquisition.

But having a local startup achieve success doesn’t always translate into gains for the rest of the tech community - as the Fairchild example shows, the key is having alumni who go on to start new companies or assist other startups in their community.