Yeshiva University announced the grand opening of the YU Innovation Lab, a collaborative learning space focused on creating a hands-on entrepreneurial environment where Israeli-based startups can grow their U.S. market potential while leveraging YU’s students and faculty experts.

In attendance at the May 21 opening were elected New York officials, university leadership, faculty, students and community members.

Entrepreneurs from the “Startup Nation” now have space in New York where they can jointly create the next new technologies.

Yissum, the technology transfer company of the Hebrew University of Jerusalem, is a strategic partner in this new university-led initiative; four of its startups (AquiNovo, Betalin Therapeutics, NewStem and Pepticom) currently participate in the YU Innovation Lab.

Healnavigator, a New York City-based Israeli startup, is the fifth participating company.

The lab has been largely funded by a grant received from the New York State legislature, secured by New York State Sen. Todd Kaminsky.

“Supporting our students by investing in the creation of a first-class link to Israel’s vibrant economy is a win-win,” said New York State Senator Todd Kaminsky. “I was pleased to secure this grant for Yeshiva University, which is an essential tool to prepare our students for the world of tomorrow, while also strengthening New York’s integral alliance with Israel. I look forward to seeing the multifaceted fruits of Yeshiva’s Innovation Lab prosper, both here in our local community and in the international community.”

“Today we can all take pride in the fact that we have worked together to deliver on a dream and make it a reality” said Andrew Lauer, vice president for legal affairs and general counsel at Yeshiva University. “Our deepest thanks go to New York State Senator Todd Kaminsky, who secured the state funding that supported the majority of this project. Senator Kaminsky is a true friend to Yeshiva University and an example of the tremendous possibilities that enduring partnerships between government and academia can bring.”

Other elected officials attending the opening ceremony included: Hon. Ydanis Rodriguez, New York City council member; Hon. Al Taylor, New York State assembly member; former New York City Council Member Rosie Mendez (representing the Hon. Gale Brewer, Manhattan borough president); Laurie Tobias-Cohen, Community Affairs representative and constituent liaison (representing the Hon. Adriano Espaillat, congressman, 13th District); and, Johanna Garcia, chief of staff (representing the Hon. Robert Jackson, New York State senator, 31st District).