Economy of New York City supported by its entrepreneurship ecosystem and venture capital investments. In the first half of 2014, Silicon Alley generated over US$2.1 billion in venture capital investment across a broad spectrum of high technology industries, most based in Manhattan, or alternatively, Brooklyn. High technology startup companies and employment are growing in New York City and the region, bolstered by the city's position in North America as the leading Internet hub and telecommunications center, including its vicinity to several transatlantic fiber optic trunk lines, New York's intellectual capital, and its extensive outdoor wireless connectivity. According to New York’s Economic Development Corporation, telecom carriers,
Silicon Beach other technology companies had facilities—"Silicon Beach, in deference to the great valley of the West". In 1984 Silicon Beach Software was formed in San Diego, California. "Silicon Beach Australia" was used to describe that country's internet technology community in 2008. There are four significant areas in Australia that are nurturing start-ups: Sydney, Melbourne, Brisbane, and Perth. Silicon Beach Silicon Beach is the Westside region of the Los Angeles metropolitan area that is home to over 500 tech startup companies, with emphasis on the coastal strip north of LAX to Santa Monica Mountains, but the term may be applied loosely or