Which cities offer the best opportunities for women who want to start their own business? This question was explored in the Dell Women Entrepreneur Cities Index study. The results are particularly encouraging from Munich's perspective: The Bavarian capital was the only German city to make the top 50 list.
Projects like guide, which has just been launched with the Anita Augspurg Prize awarded, or institutions such as the Munich Business Start-up Office (MEB) contribute to female founders feeling particularly comfortable in Munich. That, at least, is the finding of a study commissioned by Dell. This study evaluated and compared cities around the world based on the criteria of markets, talent, capital, culture, and technology. Munich was the only German city to make the top 50 list, ranking 11th overall.
Munich scores with talent and culture
And that's despite the fact that Munich is expensive, and you have to be able to afford to fail here. But Munich is also more: In addition to a vibrant consulting landscape, you can find seven DAX-listed companies, important research labs, a growing startup scene, and top universities. These are the factors that helped Munich score highly in the Dell study: In the "Talent" subcategory, which refers to both the qualifications of the founder and how easy it is to find well-trained and qualified staff, Munich ranks second. This, coupled with a strong economic environment, creates a good breeding ground for young companies, Catharina van Delden is convinced. Computer Week she said the following:
“Munich has a good business climate for our type of service; our offerings are aimed at companies, and many large corporations are located here.”
Munich also achieved a strong fourth place in the "Culture" category. Access to networks and mentors, among other things, plays a role in this category. Initiatives such as the HVB Female Founders Mentoring Program, the “Connecting Women” Messe München or the initiative Women Techmakers Munich — to name just a few — certainly contribute to this good ranking.
Still a lot to do
All of this sounds good. But even if female founders feel well-supported in a city, one major problem remains: access to capital. Only three percent of female founders still receive venture capitalSo there's still a lot to do here. Whether in Munich or anywhere else in the world!
