Wannabe-cool nickname for the Israeli hi tech industry, especially concentrated north of Tel Aviv. "Wadi" is Arabic for valley (or, rather, creek, if you don't mind believing in dry creeks like we do here in the Middle East); the word is also widely used in Israeli Hebrew to describe the peculiar conformations of these valleys. But the literal translation comes out rather nicely.

Unfortunately, the wadis are all at least an hour's drive away from the area...