Boston is the capital and largest city of Massachusetts and the largest city in New England. The reason why this area has become one of the oldest and most culturally valuable cities in the United States is that Boston is not only the birthplace of American literature and philosophy, but also has the oldest higher education institutions in the United States, including 13 of the top 50 universities in the United States and 4 Ivy League schools. In addition, Boston is considered a center of healthcare, its economy is based on scientific research, finance and technology, especially bioengineering, and it is considered a global city. Boston is known as "Athens of America" because there are more than 100 universities in the Boston metropolitan area, and more than 250,000 college students are educated here. Bostons universities are a major factor in the economy of the city and the region as a whole. Not only are they cradle of top talent, but they also attract high-tech industries to the city and nearby areas, including computer hardware and software companies, and bioengineering companies such as Millennium Pharmaceuticals.Boston receives the most annual funding from the National Institutes of Health of any U.S. city. Other important industries are finance (especially mutual funds) and insurance. Boston-based Fidelity helped popularize mutual funds in the 1980s, making Boston one of the nations top financial cities.