Proximity to universities, good infrastructure, and an open-minded culture — various factors come into play when an innovation hotspot is created. The leading startup culture — in fact, the mother of all startup cultures — is still Silicon Valley, which accounted for 25 percent of all global venture capital investment in the biotech sector in 2017. However, several cities in Europe, the Middle East, and Asia are now giving Silicon Valley some competition. The innovative strength of Tel Aviv, for example, is driven by outstanding incubator programs that were established by the Israeli government in the 1990s to make the country more attractive for well-educated Russian immigrants. Israel’s startup culture also benefits heavily from the country’s compulsory military service, which serves as a stepping stone to Silicon Wadi. Europe’s startup scene is now increasingly moving from London to Berlin, in large part due to the looming shadow of Brexit. In fact, a new digitally focused startup is founded in Berlin once every 20 hours.