A recent paper [R. Hollerbach and G. Rüdiger, Phys. Rev. Lett. 95, 124501 (2005)] has shown that the threshold for the onset of the magnetorotational instability (MRI) in a Taylor-Couette flow is dramatically reduced if both axial and azimuthal magnetic fields are imposed. In agreement with this prediction, we present results of a Taylor-Couette experiment with the liquid metal alloy GaInSn, showing evidence for the existence of the MRI at Reynolds numbers of order 1000 and Hartmann numbers of order 10.The role of magnetic fields in the cosmos is two-fold: First, planetary, stellar and galactic fields are a product of the homogeneous dynamo effect in electrically conducting fluids. Second, magnetic fields are also believed to play an active role in cosmic structure formation, by enabling outward transport of angular momentum in accretion disks via the magnetorotational instability (MRI) [1]. Considerable theoretical and computational progress has been made in understanding both processes. The dynamo effect has even been verified experimentally, in large-scale liquid sodium facilities in Riga and Karlsruhe, and continues to be studied in laboratories around the world [2]. In contrast, obtaining the MRI experimentally has been less successful thus far [3]. ([4] claim to have observed it, but their background state was already fully turbulent, thereby defeating the original idea that the MRI would destabilize an otherwise stable flow.)If only an axial magnetic field is externally applied, the azimuthal field that is necessary for the occurrence of the MRI must be produced by induction effects, which are proportional to the magnetic Reynolds number (Rm) of the flow. But why not substitute this induction process simply by externally applying an azimuthal magnetic field as well ? This question was at the heart of the paper [5], where it was shown that the MRI is then possible with far smaller Reynolds (Re) and Hartmann (Ha) numbers. In this paper we report experimental verification of this idea, presenting evidence of the MRI in a liquid metal Taylor-Couette (TC) flow with externally imposed axial and azimuthal (i.e., helical) magnetic fields.