Singapore has received the Women Entrepreneur City Blueprint

Source: Dell SlideShare. Cover slide for the deck introducing the Dell 2018 Women Entrepreneur Cities Study.

Source: Dell SlideShare. Cover slide for the deck introducing the Dell 2018 Women Entrepreneur Cities Study.

At the 9th annual Dell Women Entrepreneur Network Summit (DWEN) in Toronto, Canada, Dell introduced new analytical resources for local governments and policymakers. These tools are intended to support the success of female entrepreneurs.

Based on the findings of the 2017 Women Entrepreneur Cities (WE Cities) Index, Dell, in partnership with research firm IHS Markit, conducted in-depth analyses. These analyses focused on the challenges and opportunities faced by women entrepreneurs when accessing capital and utilizing technology for business growth. Additionally, Dell created 10 city blueprints, each highlighting concrete steps a city can take to create a more supportive environment for women entrepreneurs.

“In 2017, the rate of women’s entrepreneurship experienced a global increase of 13%, reflecting a wider trend of greater female representation in both public and private sectors across numerous regions worldwide,” said Karen Quintos, Executive VP and Chief Customer Officer at Dell. “However, women-owned businesses still encounter limitations to their success due to factors such as access to capital and technology, along with cultural and political obstacles.”

“The release of the WE City Deep Dives and Blueprints empowers leaders and policymakers to confidently transition from ‘analysis to action.’ This shift enables the acceleration of positive change, fostering an environment where women entrepreneurs can flourish – ultimately benefiting local communities, society at large, and the global economy."

“Extensive data and analysis show that removing barriers faced by women entrepreneurs leads to a significant boost in a city’s economic outlook,” stated Cris Turner, VP of Government Affairs at Dell. “The _WE City Deep Dives _and _Blueprints _provide insights into best practices that cities on the list can share, encouraging political initiatives to attract and support women entrepreneurs locally.”

WE City Blueprints

The WE City Blueprints identify areas of strength and areas needing improvement, offering city leaders and policymakers data-supported research and suggestions. This guidance aims to help them nurture the growth of high-potential women entrepreneurs.

The blueprint cities are:

  • Austin, Texas, US
  • Boston, Massachussetts, US
  • Mexico City, Mexico
  • Toronto, Canada
  • London, UK
  • Amsterdam, Netherlands
  • Sydney, Australia
  • Tokyo, Japan
  • Sao Paulo, Brazil
  • Singapore

“As the only Asian city ranked among the top 10 cities evaluated, Singapore presents immense potential and possibilities for women entrepreneurs. We are confident that by illuminating these distinctions and achievements through the WE City Deep Dives and Blueprints, we can collaboratively enhance the landscape for high-potential women entrepreneurs,” said Eric Goh, VP, Singapore Enterprise Business, Dell EMC.

Singapore secured the 8th position among the top 10 cities. It ranks 7th in Capital, 6th in Enabling Environment, 5th in Culture and 10th in Technology. In terms of the measured dimensions:

  • Singapore excels in policies that promote a supportive culture for women entrepreneurs and facilitate access to capital.

  • Singapore scores notably higher than the average in areas such as safety and security, ease of business establishment, and accessibility to open and adaptable technology.

Specifically, Singapore’s strengths include:

Policies that contribute to a supportive technology and culture for women entrepreneurs, including top scores in:

✓ Gathering city-level data on income or employment based on gender
✓ Frequency of city-organized events tailored towards women entrepreneurs or businesswomen
✓ Gender parity in Facebook usage
✓ Open data programs
✓ Paid maternity and paternity leave
✓ Availability of a dedicated city portal/website for business creation

  • Singapore received comparatively lower rankings in the areas of markets and talent. While factors like population size and the presence of internationally recognized universities play a role, some areas present opportunities for significant progress in support of women entrepreneurs. Areas for improvement include:

• Singaporean society’s emphasis on meritocratic advancement can inadvertently marginalize underrepresented groups. While the government has taken steps to address this imbalance, considerable disparities remain.

• With a female labor force participation rate (LFPR) of 60.4%, Singapore falls behind Beijing and Shanghai. Notably, Singapore lacks a policy mandating “equal remuneration for work of equal value,” a situation shared by eight out of the eleven Asian cities studied. However, Singapore does have a paid maternity leave policy and is among the majority in providing paid paternity leave.

Key recommendations for Singapore:

• Implementing policies to create a level playing field for working women, particularly those returning to work after childbirth, is crucial. This will help women gain the experience needed to establish thriving businesses.

• Despite an increasing focus on flexible work arrangements over the past decade, further policies are needed to improve work/life balance. Additionally, encouraging employees to utilize these policies is essential in supporting women’s pursuit of leadership positions.

• Given that women constitute less than 10% of company boards, Singapore should actively promote and encourage women to take on leadership roles within businesses.

• Policies that enhance women’s access to capital, including efforts towards achieving equal pay, are vital in encouraging women to explore entrepreneurial endeavors.

Capital and technology are crucial for the expansion of any business, but women often encounter unique obstacles in both areas. In 2017, only 2% of venture capital funding was allocated to businesses founded by women. Qualitative analysis from the WE Cities Index and insights from DWEN network members reveal that many women entrepreneurs are not fully utilizing innovative technologies to scale their businesses.

_WE Cities _ranking and methodology

Building upon the past six years of Dell’s research on high-potential women entrepreneurs (HPWE), cities were ranked based on five key factors: capital, technology, talent, culture, and markets. These pillars were categorized into two groups — operating environment and enabling environment. The overall ranking was determined using 72 indicators, with 45 (almost two-thirds) incorporating a gender-based component. Individual indicators were weighted according to four criteria: relevance, quality of underlying data, distinctiveness within the index, and gender component.

The 50 cities were ranked as follows:

  • New York City, New York, US
  • Bay Area, California, US
  • London, UK
  • Boston, Massachussetts, US
  • Stockholm, Sweden
  • Los Angeles, California, US
  • Washington DC, US
  • Singapore
  • Toronto, Canada
  • Seattle, Washington, US
  • Sydney, Australia
  • Paris, France
  • Chicago, Illinois, US
  • Minneapolis, Minnesota, US
  • Austin, Texas, US
  • Hong Kong, China
  • Melbourne, Australia
  • Atlanta, US
  • Amsterdam, Netherlands
  • Portland, Oregon, US
  • Berlin, Germany
  • Taipei, Taiwan
  • Pittsburgh, Pennsylvania, US
  • Tel Aviv, Israel
  • Copenhagen, Denmark
  • Vancouver, Canada
  • Houston, US
  • Johannesburg, South Africa
  • Barcelona, Spain
  • Seoul, South Korea
  • Munich, Germany
  • Miami/Ft. Lauderdale, Florida, US
  • Nairobi, Kenya
  • Dublin, Ireland
  • Warsaw, Poland
  • Belfast, Northern Ireland
  • Milan, Italy
  • Beijing, China
  • Tokyo, Japan
  • Bangalore, India
  • Kuala Lumpur, Malaysia
  • Sao Paulo, Brazil
  • Dubai, UAE
  • Shanghai, China
  • Mexico City, Mexico
  • Lima, Peru
  • Guadalajara, Mexico
  • Istanbul, Turkey
  • Delhi, India
  • Jakarta, Indonesia

Key Asia Pacific and Japan (APJ) findings include:

Access and utilization of technology exhibit significant variation across cities. Generally, Western cities and highly developed Asian cities outperform others in this domain. In the APJ region, Hong Kong (No. 5) and Singapore (No. 10) secured positions among the top 10 cities in the Technology pillar. Sydney, recognized as an emerging global hub for entrepreneurship, ranks 23rd in the Technology pillar.

Securing capital for starting or expanding a business represents a major challenge for women entrepreneurs. While San Francisco demonstrates exceptional performance in this area, within APJ, Singapore (No. 7) and Beijing (No. 10) are among the top 10 cities in the Capital pillar.

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