The Dell 2016 Top 25 Global Cities for Women Entrepreneurs ranked Toronto number six overall for its ability to support the initiatives of women business owners. The Canadian city also ranked number one in culture, number seven in market and number 10 in talent.
The top five cities were: New York; San Francisco, Bay Area; London, Stockholm; and Singapore.
- New York City ranks No. 1 overall among the 25 cities for its ability to attract and support HPWE with a top-ranked Operating Environment and an Enabling Environment ranked No.5. While New York City ranks No. 1 for Markets and Capital, it is No. 2 in Culture and No. 4 in Talent. It tops the list for its performance in Policy Enabling Market Access and is No. 2 for the Frequency and Value of Funding to businesses with women entrepreneurs.
- The Bay Area (consisting of the San Francisco and San Jose metro areas) ranks No. 2 overall, ranking No. 2 for Operating Environment and No. 6 for Enabling Environment. It ranks No. 1 for Talent and No. 2 for Capital & Markets, with a No. 1 rank for Access to Markets and the Frequency & Value of Funding to businesses founded and led by women.
- London ranks No. 3 overall, performing second for Access to Markets, third for the Operating Environment and Capital.
- Stockholm and Singapore round out the top five in the overall ranking. Stockholm is No. 1 for the Enabling Environment foundational pillar ranking No. 1 for Technology and No. 9 for Culture.
- Singapore performs in the top third of the 25 cities ranked for Talent, Culture and Technology.
Dell has been conducting research on cities with high potential for women entrepreneurs (HPWE) for the last four years. The rankings are based on five important city characteristics: capital, technology, talent, culture, and markets. These categories are organized into two groups – operating environment and enabling environment.
The overall rating has 70 indicators, and, of these, 44 have a gender-based component. Individual indicators were weighted based on four criteria: relevance, quality of underlying data, uniqueness in the index and gender component.
“Innovation and job creation by women entrepreneurs is critical for a thriving global economy, 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,” said Karen Quintos, senior vice president and chief marketing officer at Dell. “Our index provides insights to move the conversation with policymakers and city leaders from awareness to action and, in turn, to empower women entrepreneurs to have the greatest economic impact on the world.”
Findings from WE Cities will be used as a springboard for conversation and change at the seventh annual Dell Entrepreneur Network Summit (DWEN)—a global gathering of 200 of the top female entrepreneurs, business leaders, media and Dell partners that is set to take place in Cape Town, South Africa, June 27-28, 2016. The theme for this year’s summit is “Innovate for a Future-Ready World”.
Extensive data and analysis say that when impediments to female entrepreneurship are removed, there is a dramatic uplift in a city’s economic prospects, according to Dell.
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