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Accelerator programs are making Israel a hub for startups, drawing attention from Western investors.
US companies and investors are falling over themselves to get a piece of Israel's startup action these days.
There are at least two dozen accelerator programs in the Tel Aviv area, including some run by Microsoft and Google.
It seems like every US VC has at least one Israeli startup in its portfolio. Some even have full offices here, like Battery Ventures, Benchmark, Bessemer, Sequoia, according to the Mapped In Israel startup map.
With 4,800 startups in the country today, Israel is known as the "startup nation." That's more startups per capita than any other country, and No. 2 in actual numbers after the United States (not counting those who claim the tax shelter Cayman Islands as their home).
More from GlobalPost: Has Israel's regional isolation helped protect its economy?
Of those 4,800, about 700 are VC backed. The rest are bootstrapped, Microsoft's Tzahi Weisfeld, senior director of Microsoft global startup group in Tel Aviv, told Business Insider.
What makes Israel startup heaven? Weisfeld explained:
It all adds up to a nation of people who can create hardware, gadgets and apps and who have the confidence to leave good jobs and launch companies.
(Disclosure: Microsoft paid some of the travel expenses for Business Insider to attend a cloud computing event in Tel Aviv on Tuesday.)
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