Madison ranks 14th worldwide for venture capital deals per capita and 40th for venture capital dollars per capita, according to the Rise of the Global Startup City report by the Center for American Entrepreneurship, the organization recently announced.

According to the report, from 2015-17, Madison had 225 venture capital deals per 1 million residents that raised $693 venture capital dollars per 1 million residents.

In addition, Madison was classified as a “Little Giant,” a list that includes Ann Arbor, Mich. (8th, 14th), and Santa Barbara, Calif. (12th, 9th).

The report, which analyzed detailed data for more than 100,000 venture capital deals across 300 global cities and 60 countries from 2005-17, found that the San Francisco Bay area remains the most dominant for startups.