Lviv today is not only a city with magnificent architecture and historical heritage, which boasts a vast number of tourists and various cultural events, it is also one of the three largest Ukrainian IT hubs alongside Kyiv and Kharkiv.
Currently, Lviv’s tech sector is represented by 416 companies, according to the latest IT Research 4.0. In comparison with 2015, the number of companies in Lviv increased by 85%.
Lviv entered the top 10 for cost-effectiveness investment in the Financial Times 2019 investment ranking. Also, in 2019, 4 IT companies with main offices in Lviv were ranked among the 100 best outsourcing companies in the world by AIOP (The Best of The Global Outsourcing). In 2019, Lviv made it on the list of startup hubs StartupBlink.
The advantages of the city on the international IT market
As an attractive investment destination, Lviv IT market is economically feasible for starting a tech business. The city boasts its qualified human capital and offers many opportunities for potential companies due to the high-quality services, which make the city one of the most competitive European tech hubs.
Highly-qualified human capital
The city has seven universities that prepare more than four thousand talented graduates with tech majors every year. Academies and IT companies’ schools support the students and others who wish to learn a profession in tech. Besides, professional schools and courses provide people with an opportunity to retrain for future employment.
Geographic proximity to European countries
Due to its historical past and location, Lviv has embraced European culture and mentality. More than one-third of Lviv IT specialists know a second European language apart from English. Since the city is located in the very heart of Europe, it is a convenient outsourcing destination: a flight from Lviv to major business centers in Europe takes approximately three hours. Therefore, one-third of Lviv IT-companies’ clients are Europeans, and half of them are Americans.
Over the past five years, IT market in Lviv has increased threefold. 90% of IT companies’ CEOs consider Lviv a favourable place for business, and more than 83% of them plan to continue investing in it. Many local companies open branch offices abroad, the export market is growing, and a large number of Ukrainian IT specialists are moving to Lviv from other cities. Also, Lviv hosts large-scale tech events.