Dell Inc. has revealed its top 25 cities in the world for female entrepreneurs, with New York, the San Francisco Bay Area, London, Stockholm, and Singapore topping the list based on their ability to “attract and foster growth in firms founded by women.”
“Innovation and job creation by women entrepreneurs is critical for a thriving global economy,” said Karen Quintos, senior vice president and chief marketing officer at Dell.
“Yet our research shows some cities and countries are doing far more than others to encourage and support this important subset of the startup community.”
Dell partnered with insight and analytics provider IHS to launch the Women Entrepreneur Cities Index (WE Cities), which is the first global gender-specific index. They identified five important pillars for cities: capital, technology, talent, culture, and markets. These pillars were organized into two groups–operating environment and enabling environment.
New York City ranks No. 1 overall for its ability to attract and support women entrepreneurs with a top-ranked operating environment, according to the research. New York City ranks No. 1 for markets and capital, No. 2 for culture, and No. 4 for talent.
The Bay Area, which includes the San Francisco and San Jose metro areas, comes second overall, ranking No. 1 for talent, and No. 2 for markets and capital.
London ranks No. 3 overall and is third for markets, capital, and operating environment.
Stockholm and Singapore round out the top five in the overall ranking. Stockholm has the top-ranked enabling environment. Singapore has high scores in talent, culture, and technology.
“Extensive data and analysis say that when impediments to female entrepreneurship are removed, there is a dramatic uplift in a city’s economic prospects,” Dell stated in its press release.
Access to capital is still the most important challenge that women entrepreneurs face, based on the findings of the research.
Creating a networking environment with incubators, accelerators, and mentors is also vital for female entrepreneurs’ growth, whereas cultural norms and their policy implications can put serious binds on them.
“Women entrepreneurs are our country’s best bet for economic growth,” said Elizabeth Gore, entrepreneur-in-residence for Dell.
“It’s time for women to be politically engaged to ensure the right ecosystems are in place for them to scale.”
Dell has launched a platform called Union together with 1776, a global incubator and seed fund, to provide entrepreneurs anywhere in the world the ability to reach the people, resources, and education they need to take their ideas from seed to scale.