New York City ranks first overall among the top 25 cities for women entrepreneurs, according to the Dell Women Entrepreneur Cities Index (WE Cities), released at the White House’s Global Entrepreneurship Summit.
New York City, the San Francisco Bay Area, London, Boston and Stockholm are the top-five cities for high-potential women entrepreneurs
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Tel Aviv ranked 24 in this index which looks at a city’s ability to attract and foster growth of women-owned firms.
Basic Facts about Tel Aviv:
- 3.6 million population in Greater Tel Aviv
- $152.9 billion Gross Metro Product (2016)
- Top industries by employment are: technology, mining, and manufacturing, tourism
Notable Strengths
- Tel Aviv has become a hub for entrepreneurship in the past couple of years, leading to its high rank (No. 6) in the Global Startup Ecosystem Report of 2017
- In 2013, The Wall Street Journal named Tel Aviv as the second most innovative city in the world
- Although Tel Aviv’s startup ecosystem is still heavily male-dominated, as of late, there has been an insurgence of women entrepreneurship
- Tel Aviv’s ranks particularly high (No. 7) in Markets, especially in policy (No. 7) and cost (No. 17) indicators
- The city ties as No. 1 in the presence of the city portal/website for business creation and government goals for women owned businesses procurement indicators. Lower corporate income tax rates (No. 9) and a higher rank in ease of starting a business (No. 10) make Tel Aviv a desirable location for startups
- Although the area ranks in bottom 25 (No. 27) for access, there are have been new opportunities through the insurgence of hubs and incubators such as Start Tel Aviv, Launchpad Tel Aviv and Accelerator Academy Tel Aviv
- In addition, WMN is an instance of a coworking space and ecosystem for women led ventures whose mission is to be “is to be a game changer by significantly increasing the number of female founders in the industry and bridging the gender gap in the startup ecosystem.” Since its launch in 2015, WMN has been home to 22 female founder and their startup teams
- Furthermore, there have been more instances of women in leading positions at investment and venture capital firms
CEO and founder of WMN, Merav Oren, commented in a TechCrunch article that “A clear shift has become a prominent in recent years, and we are seeing Israeli women entrepreneurs just about everywhere: Women are finding startups, winning competitions, leading ventures, and venture deal-flows, and leading successful innovative companies ”
Oren’s claim is supported by the data as Tel Aviv ranks well in both number of VC firms with greater than 20 percent female partner (No. 7) and number of women founded VC firms (No. 5) indicators, helping Tel Aviv rank well in Capital (No. 11)
The per capita investment for Israel is over twice as much as the US. And 30 times more than all the members of the European Union combined
The city ranks in the top 10 (No. 9) for Value and Frequency of funding; in particular, the city ranks in the top 15 for the value of VC funds going to businesses with at least 25 percent female executives (No. 15) and number of female founder and executives in No. 2 round funding or higher (No. 9)
Tel Aviv does especially well in gender proportion of funding, especially in the number of investment companies with at least one female executive (No. 3) and the proportion of VC funds going to businesses with at least 25 percent female executives (No. 11)
Women’s entrepreneurship rates are growing
“Globally, women’s entrepreneurship rates are growing more than 10 percent each year,” said Karen Quintos, EVP and chief customer officer at Dell. “In fact, women are as likely or more likely than men to start businesses in many markets. However, financial, cultural and political barriers can limit the success of these businesses.”
Elizabeth Gore, entrepreneur-in-residence at Dell said “It is in the world’s best interest that women entrepreneurs everywhere thrive. The WE Cities Index can be used as a diagnostic tool to help ensure that lawmakers are enabling women entrepreneurs to succeed.”
Dell’ research ranked on five characteristics: capital, technology, talent, culture and markets.
The 50 cities were ranked as follows:
1. New York City
2. Bay Area
3. London
4. Boston
5. Stockholm
6. Los Angeles
7. Washington, D.C.
8. Singapore
9. Toronto
10. Seattle
11. Sydney
12. Paris
13. Chicago
14. Minneapolis
15. Austin
16. Hong Kong
17. Melbourne
18. Atlanta
19. Amsterdam
20. Portland (OR)
21. Berlin
22. Taipei
23. Pittsburg
24. Tel Aviv
25. Copenhagen
26. Vancouver
27. Houston
28. Johannesburg
29. Barcelona
30. Seoul
31. Munich
32. Miami/Ft. Lauderdale
33. Nairobi
34. Dublin
35. Warsaw
36. Belfast
37. Milan
38. Beijing
39. Tokyo
40. Bangalore
41. Kuala Lumpur
42. Sao Paulo
43. Dubai
44. Shanghai
45. Mexico City
46. Lima
47. Guadalajara
48. Istanbul
49. Delhi
50. Jakarta
