New York metropolitan area to take advantage of New Jersey's relatively lower commercial real estate and rental prices, while offering continued geographic proximity to Manhattan's financial industry ecosystem. Silicon Alley, centered in New York City, has evolved into a metonym for the sphere encompassing the metropolitan region's high technology industries involving the Internet, new media, financial technology ("fintech"), telecommunications, digital media, software development, biotechnology, game design, and other fields within information technology that are supported by its entrepreneurship ecosystem and venture capital investments. In 2015, Silicon Alley generated over US$7.3 billion in venture capital investment, most based in Manhattan, as well as in Brooklyn,
Silicon Wadi Silicon Wadi Silicon Wadi (, lit: "Silicon Valley") is an area with a high concentration of high-technology companies on the coastal plain of Israel, similar to Silicon Valley in the U.S. state of California, and is the reason Israel is nicknamed the Start-Up Nation. The area covers much of the country, although especially high concentrations of high-tech industry can be found in the area around Tel Aviv, including small clusters around the cities of Ra'anana, Petah Tikva, Herzliya, Netanya, the academic city of Rehovot and its neighbour Rishon Le Zion. In addition, high-tech clusters can be found in Haifa and