The tech sector's dominance in the Bay Area is internationally recognized and continues to attract new businesses and young entrepreneurs from all over the globe. San Francisco is now widely considered the most important city in the world for new technology startups. A recent high of $7 billion in venture capital was invested in the region. These startup companies hire well educated individuals looking to work in the tech industry, which helps the city have a well educated citizenry. Over 50% of San Franciscans have a four-year university degree, thus the city ranks high in terms of its population's educational level.
