The Ukrainian IT industry has an annual turnover of $5 billion and is the third largest export industry in Ukraine, with IT companies responsible for 43% of real estate transactions. Kharkiv is a major hub of the IT industry, with over 200 IT companies employing 22,000 people and 5 universities graduating 2,000 IT students per year. Benefits of participating in the Kharkiv IT cluster include access to skilled professionals, support from officials, and reduced costs for IT projects.