Worried about your competition? A piece of advice: Keep your eyes on cities abroad. 

High-growth startups cluster in urban areas. And urban areas around the globe--from Berlin to Mumbai to Tel Aviv--are rapidly gaining on U.S. cities when it comes to attracting venture capital, according to a new study by the Center for American Entrepreneurship, a nonpartisan organization that advocates for startups. The United States' share of global VC investment decreased from 95 percent in the early '90s to just over 50 percent today. And the decline is becoming more rapid. The country's share of global investment fell by about the same percentage over the past five years as in the previous two decades.

U.S. venture investments continue to break records, with businesses racking up more dollars during the first six months of 2018 than they did in six of the past 10 full years, according to PitchBook. But hot as things are here, elsewhere they are hotter. The U.S. accounted for less than half of VC investment growth from 2010 to 2017, according to the study. On a ranking of the top 20 cities for growth in VC deals, just two (Des Moines and Bozeman, Montana) are in the United States.

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