The City of Madison tops the list for Best Untapped Cities for Startups in 2020, released today by Fundera.

The financial resource company examined the number of venture deals, education level, office space cost, average cost of living and proximity to a larger startup ecosystem for 50 mid-sized cities with a population of fewer than 500,000 residents.

Madison was cited as having a well-educated population, the highest concentration of millennials compared to any other city in the country, low office rental prices and a cost of living that “isn’t outrageously high.”

Plano, Texas, was No. 2 and St. Paul was No. 3. Madison was the only city from Wisconsin that was ranked.