Tel Aviv has been named the second best place in the world in which to launch a high-tech startup company. According to the international study, Tel Aviv ranks just behind Silicon Valley and before Los Angeles, Seattle, New York, Boston, London, Toronto and Chicago.

The study’s goal was to rank the world’s Top 20 startup ecosystems. The comparative analysis was put together by Startup Genome, a body researching the global high-tech arena, in collaboration with UC Berkeley, Stanford and Telefónica Digital.

The survey conducted research on 50,000 companies. Data results were based on a city’s suitability to nurture the success of startup companies, among other factors.

According to the report, the Tel Aviv startup employees work 9.42 hours a day, just less than their counterparts in Silicon Valley who work 9.95 hours a day.

Rounding out the Top 20 in the study are Paris, Sydney, Sao Paulo, Moscow, Berlin, Waterloo, Singapore, Melbourne, Bangalore and Santiago.