Driven by the availability of a large skilled labour pool as well as relatively low personnel costs, Ukraine was the fastest growing IT market in the whole CEE region before the financial crisis. However, the IT industry is still underinvested in many areas in Ukraine. The low level of IT expenditures and low share of IT services and software sales in the total market value means a high potential for further growth. An important feature of the Ukrainian IT market is the relatively high proportion of IT outsourcing work (as opposed to the development of customized software), which is sometimes viewed as a relatively low-value adding activity. The main consumers of IT products are in the financial sector, telecommunication sector, trade and industry, as well as the public sector.
Smart IT Cluster has already presented its solutions in Ukraine and we can see that the demand for innovations is growing rapidly. We are looking for companies and scientific institutions willing to cooperate in solution development for the financial, telecommunication, agricultural and public sectors.