Perks of external hackathons

Michele Erba

Hackathon Expert

What is an external hackathon?

An external hackathon is an event where the participants are not the employees of the company but skilled external teams of individuals. 

External hackathons, aka open or public hackathons, have gained huge popularity as a means of getting things done, mainly due to their proven effectiveness. These fancy events usually welcome participants with diverse backgrounds or profiles, offering businesses a unique opportunity to extend their reach and engage with fresh perspectives, ideas, and talent.

Why do companies organise external hackathons?

In this article, we list and explain the main perks of organising an external hackathon and why your entity should run one.

Table of contents

1. Let relevant audiences test the company’s products/solutions/software/technology
2. Innovate a business, a process, or a product
3. Scout, find, and hire highly skilled talents
4. Crowdsource new perspectives and fresh external ideas
5. Develop new apps, platforms, and software
6. Build awareness, exposure, promotion, and excitement around a company
7. Access, enter, and engage with new communities
8. Market research and validation
9. Accelerate the development of new products and services
10. Create new partnerships with other companies or organisations
11. Conclusion

1. Let relevant audiences test the company’s products/solutions/software/technology

One of the most tangible benefits of external hackathons is the ability to let relevant audiences test a company's products, solutions, software, or technology. By providing access to real users and potential customers, businesses gain valuable insights and feedback that can shape the refinement and improvement of their offerings. Need more details? Read our article “Hackathons for testing purposes”.

2. Innovate a business, a process, or a product

External hackathons are an effective, fast, and solid tool for innovation. Companies can prepare and present specific challenges or problem areas and invite participants to propose innovative solutions to innovate a whole business, a process, or a product. We wrote a specific article on innovation hackathons that you can read here.

3. Scout, find, and hire highly skilled talents

External hackathons offer a great opportunity to scout, find, and hire highly skilled individuals who could be interested in joining one of the hackathon partners or to whom the organiser could outsource some services. Hackathon participants often include talents with diverse skill sets, making it an excellent talent pool for recruitment (being recruited could indeed be the hackathon prize, for example). Of course, the target audience is set by the hackathon organiser: it could be PhD students, marketers, software developers, or UX designers. Eventornado’s campaign managers are certified to run ads on the main social media platforms and can provide high-quality outreach campaign services to make sure the right people are actually participating in your event. To conclude, as we explained in this dedicated article, hackathons are an excellent way to reduce costs and speed up the hiring process.

4. Crowdsource new perspectives and fresh external ideas

External hackathons bring together a diverse group of participants, each with their unique perspectives and experiences.

This diverse crowd can offer fresh ideas and alternative approaches that may not have been considered within the confines of the organisation. Read the deep dive about crowdsourcing through hackathons.

5. Develop new apps, platforms, and software

These events can serve as incubators for developing new apps, platforms, and software. The intense and collaborative environment stimulates rapid prototyping, allowing businesses to explore new concepts and bring them to life quickly. We’ve analysed the most common purposes of these types of hackathons here.

6. Build awareness, exposure, promotion, and excitement around a company

External hackathons are also excellent opportunities for building awareness, exposure, and promotion for a company. Participation and sponsorship of such events can elevate a brand's visibility within the broader tech and innovation communities. Hackathons generate excitement around a company. They showcase a commitment to innovation and invite external talent to contribute to the company's growth, making it an attractive destination for innovators and enthusiasts. More details can be found on this insight dedicated to brand awareness and marketing hackathons.

7. Access, enter, and engage with new communities

Hackathons provide a gateway for businesses to access, enter, and engage with new communities. Companies can establish connections with like-minded individuals and organisations by hosting community hackathons, broadening their network and reach.

8. Market research and validation

External hackathons can be used as a form of market research and validation. Ideas and prototypes developed during these events can be assessed in real-world scenarios, helping companies gauge their potential market appeal and demand.

External hackathons can be used as a form of market research and validation. Ideas and prototypes developed during these events can be assessed in real-world scenarios, helping companies gauge their potential market appeal and demand. Find an in-depth article at this link.

9. Accelerate the development of new products and services

The collaborative nature of hackathons accelerates the development of new products and services. Teams work intensively within a fixed timeframe, often leading to tangible outcomes, such as prototypes or minimum viable products (MVPs). Read this article if you want to know more about how hackathons can help speed up the development of new products, solutions, or processes.
 

10. Create new partnerships with other companies or organisations

External hackathons can also serve as a platform for creating new partnerships. Companies can collaborate with other organisations or startups participating in the event, potentially leading to strategic alliances or joint ventures. Explore this blog post if you’d like to know more about this matter.

11. Conclusion

If your goal is compatible or similar to one of the above, you should consider organising an external hackathon for your company. Hundreds of other companies have already done so, and thousands more will continue to.

Let’s talk today if you want to be one of them!

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