Why Women Entrepreneurs Should Seriously Consider Starting Up in New York
Between the money and the culture, New York makes a strong case.
Despite all the recent news about the toxic environment for women entrepreneurs, especially in Silicon Valley, new research from Dell finds that many of the best cities for women entrepreneurs are in the United States. Indeed, the Bay Area is ranked second out of 50 cities, with New York taking the top slot.
Those cities are followed by London, Boston, and Stockholm. Among the top 10 cities, six are in the United States, two are in Europe, one is in Canada and one is in Asia.
Dell executive vice president and chief customer officer Karen Quintos said in a press release that globally, women’s entrepreneurship rates are growing at more than 10 percent each year, and that in many markets, women are as likely or more likely than men to start businesses.
“However, financial, cultural, and political barriers can limit the success of these businesses,” she says. With this research, Dell hopes to provide a tool to improve the landscape for high-potential women entrepreneurs, says Quintos. The top 10 cities are:
- New York
- Bay Area
- London
- Boston
- Stockholm
- Los Angeles
- Washington, D.C.
- Singapore
- Toronto
- Seattle
Each city was ranked on five characteristics, which composed of a total of 72 criteria. The five categories were capital, technology, talent, culture and markets.
Interestingly, New York came in second in capital, with the Bay Area coming in first. While there’s no doubt that there’s massively more startup capital available in Silicon Valley than there is anywhere else in the U.S., research from Female Founders Fund has found that a greater percentage of early-stage money goes to women entrepreneurs in New York than it does to women entrepreneurs in the Bay Area.
New York also came in first in culture and markets. Washington D.C., which has scored well in other studies linking women entrepreneurs to their cities, ranked first for talent. Austin was ranked first for technology.
This article was originally published at Inc.com.
