2017 to 2019: How 50 Cities Scored on Supporting Women Entrepreneurs Then to Now
Dell Technologiesannounced findings of its annual Women Entrepreneur Cities (WE Cities) Index– the only global, gender-specific study that looks at a city's ability to foster the growth of women-owned businesses
- Since 2017, all 50 cities improved on the majority of their indicators year-over-year, and the
San Francisco Bay Areaovertook the No.1 spot from New York Cityfor its progress in awarding more women entrepreneurs with capital and availability of mentors
- The Index serves as a diagnostic tool to advise policy-makers on how to better support women in business
Today at the 10th annual Dell Women Entrepreneur Network Summit,
Experience the interactive Multichannel News Release here: https://www.multivu.com/players/English/8575751-dell-women-entrepreneur-network-summit/
Building on 10 years of research on women entrepreneurs,
All 50 cities made progress since 2017, however some cities made bigger strides than others and the race to the top inevitably left some cities behind. Highlights include:
San Francisco Bay Areaout ranked New Yorkfor the No. 1spot this year, largely in part because the Bay Area is one of the best places for women to gain access to capital. It also moved from 6th place to 2nd place in Culture, illustrating that the number of role models and public dialogue around eliminating the 'bro culture' is making an impact.
- Out of a total of 100 possible points, the
No. 1ranked San Francisco Bay Areascored only 63.7. That's evidence that there is still much work to do to level the field for women – and validates the need for this kind of research and outreach to policymakers to move the needle for female founders.
- Lack of funding, high-cost of living, low representation of women in leadership roles, and the lack government led policies that support women entrepreneurs were among the barriers, globally.
- Thirty out of 50 cities improved on more than half of their indicators, with
Latin Americaand Europeseeing the highest percentage of their cities move up.
- The most-improved cities represent nearly every region, which indicates how broad-based the improvements have been around the world.
Mexico Cityhad the greatest improvement ranking No. 45 in 2017, moving up to No. 29 this year. In particular, the city increased women in education, at top business schools and in its legislature, and also increased corporate vendor procurement programs and access to capital for women entrepreneurs via crowdfunding campaigns.
2019 WE Cities Index Rankings:
"When we invest in women, we invest in the future; communities prosper, economies thrive and the next generation leads with purpose," said
"When more women work, economies grow. Technology is helping to drive this progress as a gender-neutral enabler, and helps create a level playing field," said
"The 2019 Dell WE Cities report is unique from other bodies of research in that it not only ranks 50 global cities on their ability to foster women entrepreneurs, it shows how the cities have improved from their 2017 benchmark," said
Advocating for Women Entrepreneurs
The 2017 to 2019 WE Cities Index results highlight the successes and challenges that each city faces, and where cities can learn best practices from one another. These key learnings, if supported by local governments, can add up to big changes for women-owned businesses, globally.
Based on the findings and comparison between the 2017-2019 indices,
- Access to and the development of financial and human capital.
- Private and public sectors role in increasing access to local and global networks and markets.
- How government and business leaders can help women entrepreneurs thrive in the changing-face of technology.
About WE Cities
Research for WE Cities began during the 2016 DWEN Research Symposium chaired by Dr.
- Access to capital is still the
No. 1challenge that women entrepreneurs face, although the numbers are showing a slight improvement
- Creating robust ecosystems with incubators, accelerators and mentors makes a world of difference for entrepreneurs — it's all about the network
- Cultural norms and their policy implications put serious binds on female entrepreneurs
- Talent, both in terms of the entrepreneurs' own talent, including education and experience, and having access to a skilled staff also resonated as highly important
The successful pilot of the 2016 Index led to the scaling for the 2017 Index to include 50 cities and the re-measuring and ranking for 2019.
About the Dell Women's Entrepreneur Network
As the visionary outcome of a true entrepreneur,
About the Annual Dell Women's Entrepreneur Network Summit
PR Contact, Patti Kelly, Dell Global Communications, Media_Relations@Dell.com; Research Contact, Karen Campbell, PhD, IHSM Consulting Associate Director, Economics & Country, firstname.lastname@example.org