SINGAPORE - Singapore has come in 8th on a list of cities worldwide ranked for their ability to attract and foster the growth of women-owned firms.

It was also the top city in the Asia-Pacific on the list compiled by Dell and IHS Markit.

New York was named the overall best city for fostering high-potential women entrepreneurs, followed by the Bay Area in San Francisco and London. Hong Kong came in 16th.

The study, released on Monday (July 17), looked at the cities based on the impact of local policies, programmes and characteristics, along with national laws and customs.

It ranked the cities across five key aspects of fostering women-owned firms: capital, technology, talent, culture and markets.

The Republic placed 7th in terms of capital, 6th in enabling environment, 5th in culture, and 10th in technology.

"Cities in Asia-Pacific hold huge promise and opportunity for women entrepreneurs, with a number of cities in the region already realising success in terms of attracting and fostering high-potential women business owners," said Mr Amit Midha, president of Asia-Pacific commercial at Dell EMC.

He added that throughout the region and across the five city characteristics looked at as part of the ranking, cities have differentiated themselves in specific areas.

Singapore and Hong Kong, for instance, are both focusing on technology leadership and their ability to enable women entrepreneurs to stand out, through technology and innovation.

"The challenges women entrepreneurs face are complex, but the success stories we see are testament to the scale of the opportunity available in Asia-Pacific. Identifying these challenges and working to address these is an investment in our collective future," said Mr Midha.