Dell has identified the top 25 cities worldwide that cultivate high-potential women entrepreneurs (HPWE) for 2016 through their Women Entrepreneur Cities Index (WE Cities). This unique index assesses a city’s capacity to attract and promote the growth of women-led businesses. The study focused on cities rather than countries to highlight how local policies and initiatives impact women entrepreneurs, in addition to national legislation and norms.
The WE Cities findings will serve as a starting point for discussions at the seventh annual Dell Women’s Entrepreneur Network Summit (DWEN). This gathering of 200 prominent female entrepreneurs, business leaders, media representatives, and Dell partners is scheduled for June 27-28, 2016, in South Africa.
Karen Quintos, Dell’s SVP and CMO, emphasized the crucial role of women entrepreneurs in driving economic growth. She noted that while innovation and job creation by these women are vital, some cities and countries are considerably more supportive than others. Dell’s index provides insights for policymakers and city leaders to move beyond awareness and take concrete steps to empower women entrepreneurs, maximizing their economic impact.
Singapore earned a fifth-place ranking in the index, demonstrating strength in talent, culture, and technology. Sydney also secured a spot in the top 10.
Margaret Franco, Dell’s VP of APJ CSES Marketing, highlighted Singapore’s robust ecosystem for women entrepreneurs. She noted their focus on nurturing local entrepreneurship and promoting digitization across industries. Singapore’s top 10 position in the WE Cities Index and its third-place ranking in the Future Ready Economy study illustrate the country’s conducive environment for women-owned businesses to flourish. Franco sees Singapore as a prime example within Asia of the significant contribution women make to a nation’s economic growth.
Elizabeth Gore, Entrepreneur-in-residence at Dell, believes women entrepreneurs are crucial for economic growth and encourages their engagement in advocating for supportive ecosystems. She emphasizes the potential of partnerships between policymakers and entrepreneurs to create dynamic policies that bridge the gap between initial ideas and successful enterprises. Gore views the WE Cities index as a valuable tool for ensuring lawmakers understand and address the needs of women entrepreneurs.
Top 25 WE Cities
- NEW YORK
- BAY AREA
- LONDON
- STOCKHOLM
- SINGAPORE
- TORONTO
- WASHINGTON, DC
- SYDNEY
- PARIS
- SEATTLE
- MUNICH
- AUSTIN
- BEIJING
- HONG KONG
- TAIPEI
- SHANGHAI
- TOKYO
- MEXICO CITY
- SAO PAULO
- SEOUL
- MILAN
- DELHI
- JOHANNESBURG
- JAKARTA
- ISTANBUL
Dell collaborated with IHS, a leading provider of data and analysis, to conduct this global research. They assessed the 25 cities based on their attractiveness and support for high-potential women entrepreneurs. The selection criteria prioritized geographic diversity and drew from the 50 global cities included in the Dell Future-Ready Economies (FRE) Model to allow for comparisons between the two indices.
Dell’s research on HPWE over the past four years identified five key characteristics: capital, technology, talent, culture, and markets. These pillars were categorized into two groups: operating environment and enabling environment. The overall rating considered 70 indicators, 44 of which had a gender-based element. Indicators were weighted based on relevance, data quality, uniqueness to the index, and gender component.
The research for WE Cities began during the 2016 DWEN Future Ready Research Symposium led by Dr. David Ricketts from the Technology and Entrepreneurship Center at Harvard. The symposium gathered 40 global thought leaders, women entrepreneurs, academics, and media professionals to generate insights for the model. Key takeaways from the symposium discussions included:
- Access to capital remains the primary obstacle for women entrepreneurs, despite some improvements.
- Building strong ecosystems with incubators, accelerators, and mentors significantly benefits entrepreneurs, highlighting the importance of networks.
- Cultural norms and their impact on policies pose considerable challenges for women entrepreneurs.
To support entrepreneurs in areas lacking adequate resources for business expansion, Dell partnered with 1776 to create Union. This international startup platform seeks to empower the next generation of entrepreneurs by providing support, fostering connections, and removing barriers regardless of location.
Union, accessible through the Startup Federation (a global network of startup campuses and mega-hubs) or virtually for entrepreneurs in remote locations, offers access to crucial resources, education, and connections to help entrepreneurs globally scale their ideas. Developed by 1776’s engineers and informed by insights from incubators, accelerators, experts, and hubs worldwide, the platform allows entrepreneurs to:
- Access content and courses on business development
- Seek advice from top mentors in their fields
- Consult with experts in marketing, sales, engineering, and human resources
- Connect with potential investors, customers, and business partners
Donna Harris, co-founder and co-CEO of 1776, emphasized that Dell’s WE Cities research reveals how millions of entrepreneurs face limitations due to their local economies and policies. She believes entrepreneurs should have the freedom to live where they choose while accessing the same valuable resources, a vision that Union strives to realize.
Interested?
Read the takeaways from the symposium (PDF)
View a detailed summary of the research findings and recommendations (PDF)
Hashtags: #WECities, #DWEN