Indiana Governor Mike Braun announced a new $60 million investment that will help Israeli tech companies build operations in the Hoosier State.

In a news release from the governor’s office, Braun said the launch of Iron Nation-Indiana will create a “strategic bridge” between Indiana and Israel and will “strengthen Indiana’s position as a destination for innovation-driven growth.”

“Indiana is committed to competing and winning in the industries shaping the future,” Braun said in the 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.”

Iron Nation-Indiana is anchored by a $15 million investment from the state and more than $30 million in program commitments to connect Indiana’s communities, corporations, healthcare systems, and universities with Israeli tech companies. It’s seen as a venture investment initiative to support “high-potential Israeli startups” and has become an active investment platform.

“With Iron Nation–Indiana, we are building more than an investment platform,” said Gil Friedlander, a co-founder and managing partner of Iron Nation. “We are building a bridge that connects exceptional Israeli entrepreneurs with Indiana’s outstanding business, healthcare 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.”

More information about partners and future engagement opportunities are expected to be announced at a later date.