A new economic development initiative seeks to strengthen ties between the Hoosier State and Israel.
The Indiana Economic Development Corporation announced Monday a $60 million investment and commercialization initiative known as Iron Nation-Indiana.
The initiative aims to connect Hoosier companies, health care systems, universities and communities with Israeli technology startups.
Indiana will invest $15 million in the initiative, with another $30 million commitment from the Iron Nation partnership expected, according to a news release from the IEDC.
“Indiana is committed to competing and winning in the industries shaping the future,” Gov. Mike Braun said in a news release. “Iron Nation-Indiana reflects the kind of partnership we want to pursue — one that combines public leadership, private capital and real commercial opportunity to bring more investment, more innovation and more long-term value to our state.”
The IEDC says the partnership will give Israeli technology companies new opportunities to establish U.S. headquarters and operations in Indiana, in addition to the chance to forge commercial relationships with Hoosier companies.
The Iron Nation platform launched to support Israeli startups in the aftermath of the Oct. 7 attacks on Israel. Iron Nation-Indiana aims to bring those investment and commercial partnerships to the Hoosier State.
The announcement garnered praise from the Jewish Federation of Greater Indianapolis, the Indiana Corporate Partnership, Central Indiana Regional Development Authority and AM General, a military and commercial automobile manufacturer headquartered in South Bend.
In the release, Commerce Secretary David J. Adams said the initiative aligns with Indiana’s strategy to grow wages and the economy by engaging with promising companies earlier.
“With Iron Nation-Indiana, we are building more than an investment platform,” Gil Friedlander, co-founder and managing partner of Iron Nation, said in the release. “We are building a bridge that connects exceptional Israeli entrepreneurs with Indiana’s outstanding business, health care and research ecosystem as well as the local Jewish community. That creates an opportunity for our companies and for Indiana to engage innovation earlier and more directly.”
Former Republican congressman Luke Messer, now senior vice president and general counsel at Prolific, will act as the Indiana partner for the initiative.
The IEDC said it will release information about additional partners and opportunities at a later date.
Indiana Capital Chronicle is part of States Newsroom, a nonprofit news network supported by grants and a coalition of donors as a 501c(3) public charity. Indiana Capital Chronicle maintains editorial independence. Contact Editor Niki Kelly for questions: info@indianacapitalchronicle.com.
