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 community of 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, a city center for global innovation, 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, representing the 9th District (D-Five Towns).

“Supporting our students by investing in the creation of a first-class link to Israel’s vibrant economy is a win-win,” said Kaminsky. “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.

Selma Botman, provost of Yeshiva University, said that “by leveraging YU’s iconic connection to Israel, the lab will serve as an intellectual portal for Israeli startups in the United States. The synergy created among its key participants will help shape a generation of future YU entrepreneurs and business leaders who align with Jewish values.”