Austin
Overall Score: 45.6 out of 100 | Overall Rank: 24 out of 55

Momentum Rank

AustinGlobal medianOverall score
6034Technology40
20Markets

0Culture

TalentCapital

Basic Facts:• Population: 2.35 million (2021)• Gross Metro Production (GMP): $193.65 billion(2021)• Top Sectors by Employment (2021):
1) Professional & business services
2) Government3) Education & health services
Notable Strengths:
Austin is widely known as the capital of Texas, home to
the University of Texas at Austin, and for its popularslogan ‘Keep Austin Weird’. As one of 14 US cities
ranked in the WE Cities Index, Austin places 24th out of
the 55 cities in the 2023 Index. The top half ranking isdriven by a strong performance in the enabling
environment, with top half rankings in the culture andtechnology pillars, and strong sub-pillars across theoperating environment. Austin’s overall score has grown
1.79% since the 2019 index.
Austin’s strongest pillar is culture, led by a top 5 ranking
in the attitudes & expectation sub-pillar. According toFactiva data, Austin ranks in the top 15 in the percent ofarticles on successful women entrepreneurs in themedia. Ipsos survey data also showed that Austin ranks
in the top 15 in the percentage of respondents whobelieve that its hardly or ever acceptable ‘using sexist or
misogynistic language’. Both indicators show the broader
cultural landscape in Austin to be inclusive which
encourages aspiring women entrepreneurs. Austin isalso strong in the policy sub-pillar, indicating the city’scommitment to requiring gender equality by law. Austin isbound by the Texas Equal Work, Equal Pay Law
Protection and the Texas General Anti-Discrimination
Law Protection that protects women from discrimination

Overall Rank

24

Operating Environment

25

Markets

22

Size

37

Cost

25

Access34

Policy19

Talent28

Women's Skill & Experience

31

Access to Qualified Personnel

19

Capital36

Number/Value

16

Gender Proportion

25

Women's Capital Base

45

Enabling Environment

17

Culture13

Access to Mentors & Role Models

24

Attitudes & Expectations

4Policy

16

Technology

27

Connected

34

Cost

29

Policy13

Equality33

in the workplace and on the compensation scale.1 These protections are advocated for by policy organizations likethe Women’s Business Enterprise Council that lead efforts in ensuring women’s equality and freedom in thebusiness world.
Over the last two decades, Austin has established itself as a technology powerhouse earning a place in the top tenfor this pillar. The area's well-educated work force, world-class research facilities, high quality of life, and low cost ofliving (relative to other tech-heavy metros) have attracted some of the world's largest technology-focusedcompanies—Dell, Apple, IBM, Samsung, Tesla, Google, Meta Platforms, and Advanced Micro Devices—as well as
hundreds of smaller technology-intensive companies, making Austin a major hub of high-tech business activity.
Technology companies like Google, Amazon, and Apple have longstanding operations in the city. In 2021, Tesla
announced they are moving its headquarters to Austin, further cementing the city’s stature as a tech hub. 2 The
broader technology ecosystem in a city is vital for the success of women entrepreneurs. Within the policy sub-pillar,Austin ranks highly in per capita technology train organizations for women. Technology classes specifically for
women like pyladies, Women Who Code, and Girls in Tech makes technology less intimidating and more inviting forwomen. A network of developers and users of software applications is a key component of the technology
ecosystem. Austin ranks 2nd in the per capita number of open development users, leading all cities in the US.
While the operating environment in Austin is weaker than the enabling environment, there are specific sub-pillars
and indicators that Austin scores well in. The top 20 ranking for policy within the markets pillar is in large part due tothe presence of a city portal/website for business creation and the presence of government goals for women owned
business. Ease business creation and policies that give opportunities to women owned business show Austin’scommitment to smooth and fair business operations. According to LinkedIn data, Austin scores highly in the percentof the labor force who are IT professionals and in the percent of the labor force who are in professional services.
These scores lead to a top 20 ranking in the talent sub-pillar access to qualified personnel, which is important for all
entrepreneurs.
Areas for Improvement:
While some sub-pillars within markets and talent can be seen as an area of strength for Austin, others are areas forimprovement. Austin ranks 49th in population and 38th in GMP. Austin experienced one of the largest population
gains from July 2020 to July 2021 but remained the smallest US city included in the index and is the second
smallest in terms of GMP.3 The access sub-pillar is also an area of improvement for Austin. Austin ranks 33rd infemale entrepreneurs as a percent of startups in the city. Furthermore, the city ranks 28th in the percent of company
board members that are female.

1 Equal Pay and Pay Transparency Protections. (n.d.). Retrieved from DOL: https://www.dol.gov/agencies/wb/equal-pay-protections

Mathur, P. (2022, March 29). Next Coast Ventures wrangles $310M in new funds as Austin's VC scene booms. Retrieved fromPitchBook: https://pitchbook.com/news/articles/next-coast-ventures-austin-texas-310-million-venture-capitalOver Two-Thirds of the Nation’s Counties Had Natural Decrease in 2021. (2022, March 24). Retrieved from Census:
https://www.census.gov/newsroom/press-releases/2022/population-estimates-counties-decrease.html
Rebecca Bellan, A. A. (2021, October 7). Elon Musk announces Tesla to move headquarters to Austin. Retrieved from TechCrunch:https://techcrunch.com/2021/10/07/elon-musk-announces-tesla-to-move-headquarters-to-austin/
2 Rebecca Bellan, A. A. (2021, October 7). Elon Musk announces Tesla to move headquarters to Austin. Retrieved from TechCrunch:https://techcrunch.com/2021/10/07/elon-musk-announces-tesla-to-move-headquarters-to-austin/
3 Over Two-Thirds of the Nation’s Counties Had Natural Decrease in 2021. (2022, March 24). Retrieved from Census:

https://www.census.gov/newsroom/press-releases/2022/population-estimates-counties-decrease.html

Within talent, women’s skills and experience ranks in the bottom half of the index. Austin ranks 43rd in the percent offemale faculty at top business schools. Overall, when it comes to indicators related to colleges and universities in
the index, Austin ranks in the middle of the pack. It ranks 36th in number of accredited business schools and 40th innumber of top ranked global universities.
According to PitchBook data, venture capital companies invested over $5.5 billion in Austin across 412 deals in
2021. 4 Everly Health, a digital care platform that offers at-home medical tests, raised $200 million and was valued
at $2.9 billion in March 2021. Investors like Capital Factory, Silverton Partners, and Central Texas Angel Network
have been active in the Austin region, conducting over 300 deals from 2013 to 2022. While the broader capital basecan be seen as a strength of Austin, the city can still improve specifically in the sub-pillar women’s capital base.
Austin ranks 48th in the number of weeks of paid paternity leave which highlights how difficult it is for women to growa family and keep an income base. Austin also ranks 37th in number of potential investors. While the city had arecord year in 2021 in dollars invested, the small number of potential investors is a limitation to women
entrepreneurs gaining funding. Since the WE Cities inception in 2017, Austin’s momentum has been on autopilot.
While it boasts a lot of strength, to remain competitive among the 55 cities it will need to advance in areas that canencourage women entrepreneurship. Given its already strong tech qualifications and culture, the city has anopportunity to be a place where women entrepreneurs flourish.

4 Mathur, P. (2022, March 29). Next Coast Ventures wrangles $310M in new funds as Austin's VC scene booms. Retrieved from

PitchBook: https://pitchbook.com/news/articles/next-coast-ventures-austin-texas-310-million-venture-capital