The Indiana Economic Development Corporation announced a $60 million partnership deal Monday to bring Israeli tech start-ups to the state.
The initiative aims to integrate Israeli start-ups with Indiana universities, health care systems, and other companies.
Indiana will commit $15 million to the initiative, with the Iron Nation partnership expected to invest another $30-million.
“Indiana is committed to competing and winning in the industries shaping the future,” Governor Mike Braun said in a press release.
Iron Nation is a platform that launched in the wake of the October 7th attacks in Israel and is focused on producing investment in emerging Israeli businesses.
Luke Messer is a U.S. partner for the Iron Nation project in Indiana. A former Indiana Congressman, Messer said the partnership is an effort to get the state involved in one of the leading tech sectors in the world.
“The Israeli tech sector is the third most robust in the world, behind only New York and San Francisco,” he said. “So it creates an opportunity of a pipeline of tech businesses to our state.”
Messer said the goal will be to raise additional funds over the summer from businesses and private funders in order to hit the full $60-million price tag.
Beyond the investment itself, Messer said what’s important is the political message it sends.
“It's also important, frankly, for supporters of Israel to stand up and step forward, and where it makes sense, in an initiative like this, support the nation of Israel,” he said. “I mean, I applaud Governor Braun for his willingness to show that courage.”
The partnership strengthens the relationship between Indiana and Israel. The state has been purchasing Israeli bonds at a time when activists have called for a divestment in the country, given the ongoing conflict in Palestine.
Indiana State Treasurer Daniel Elliott has said those bonds are some of the state’s best-performing investments.
But not everyone is thrilled with Indiana’s growing investment in Israel.
Malkah Bird is a Jewish community member with Jewish Voice for Peace Indiana, a pro-Palestinian group critical of Israel’s occupation of Palestine. She called the investment a disservice to Indiana taxpayers.
“We don't want our money to be used to support war, to support genocide, to support apartheid,” Bird said. “This is a purely political move on the part of Braun and State Treasurer Elliot to try to fortify our relationship with Israel while Israel is committing these atrocities.”
Messer, when asked how he would respond to people with ideological concerns about investing in Israel, said the initiative is ultimately about creating jobs in Indiana.
“Trade makes friends, and one of the best things we can do to promote peace is to promote trade of this type,” he said.
Contact Government Reporter Benjamin Thorp at bthorp@wfyi.org
