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,
Science and technology in Israel voice-mail company; and Mercury Interactive, which measures software performance. A high concentration of high-tech industries in the coastal plain of Israel has led to the nickname Silicon Wadi (lit: "Silicon Valley"). Both Israeli and international companies are based there. Intel and Microsoft built their first overseas research and development centers in Israel, and other high-tech multi-national corporations, such as IBM, Cisco Systems, and Motorola, have opened facilities in the country. Intel developed its dual-core Core Duo processor at its Israel Development Center in Haifa. More than 3,850 start-ups have been established in Israel, making it second only to the US