Singapore came in 5th in the overall ranking of cities with high potential women entrepreneurs (HPWE), according to the 2016 Women Entrepreneur Cities Index (WE Cities) by Dell.
The only Asian city in the top ten, Singapore also performs in the top third of the 25 cities ranked for the sub-categories, Talent, Technology and Culture.
WE Cities is the global gender-specific index that looks at a city's ability to attract and foster growth in firms founded by women entrepreneurs.
A dramatic uplift in a city's economic prospects is possible when impediments to female entrepreneurship are removed. Leaders and policy-makers can leverage Dell's Index to improve conditions to enable businesses founded by women to thrive.
"Singapore has established a robust ecosystem to support women entrepreneurs with a strong focus on cultivating home-grown entrepreneurship and promoting digitization across all verticals," said Margaret Franco, vice president, APJ CSES Marketing, Dell. "As the only Asian city in the top 10 of the WE Cities Index and having emerged as the third most Future Ready Economy in a study conducted earlier this year, Singapore is well positioned on a global landscape for women-owned businesses to thrive and is an exceptional example to Asia of the great contribution women bring to the economic growth of a nation."
Areas to improve
The index also provides areas to improve for the top 25 cities. It advises Jakarta, which was ranked 24th overall, to improve its policies enabling greater use of technology by women and internet connectivity.
Seoul, Tokyo and Taipei should focus on increasing access to market for women-owned businesses.
While 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.
London ranks No. 3 overall, performing second for Access to Markets, third for the Operating Environment and Capital.
"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.
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