If you thought hackathons were only for engineers and coders, think again.
More companies are starting to run their own hackathons both in-house and public, to generate new products, vet quality talent or connect themselves with leading industries.
And while the biggest appeal of running a hackathon is how much can be achieved in such little time, more businesses are catching on to just how much it can do for their bottom line. Before you start planning your company hackathon, you should decide on your why and make sure everyone is on the same page.
We’ve rounded up seven of the biggest reasons why your company should run a hackathon. Yes, you!
7 reasons why your company should run a hackathon
1. Hackathons are a natural way to drive innovation
Did you know that over 80% of Fortune 100 companies run hackathons to drive innovation? More than 50% of them are recurring events.
When you run a hackathon, you’re doing more than simply running an event. You’re giving your company the best possible opportunity to innovate.
Think of how fast ideas and decisions get made during a three-day hackathon. Teams meet (virtually) on a Friday and potentially have a viable product on Sunday. It’s practically, if not completely, impossible to match that level of risk-taking and solution-based thinking on a day-to-day basis.
Hosting a hackathon is a tangible way to explore what your community has to offer. You learn about industry developments while generating fresh ideas from the brightest talent. If that’s not reason enough, keep reading.
2. Get people talking about your company
Hackathons are incredibly fast-paced, hectic, and high energy—and it’s a perfect opportunity to get people talking about your company.
Whether it’s a physical event (we’ll wait a bit longer for that) or virtual, a hackathon brings people together to work on projects and create innovative solutions under your company’s branding.
When you decide to run a hackathon, you’re letting potential talent know that you value innovation and think outside the box.
By building that community of teams within such a short space of time, you can strengthen your company’s presence in the industry and connect your name to innovation within a matter of days.
3. You can attract powerful PR. For free.
One of the most underrated things that happen to companies that run a hackathon?
Free PR.
Put yourself in the media’s shoes for a second. There are 50 app development companies in the area, and four of them run hackathons on a regular basis. How would those four companies look to you, compared to the other 46?
Digitally-savvy. Progressive. Young. Innovative.
Showing the world that you go out of your way to give employees and your extended community a real opportunity to express themselves, think outside the box, and create real solutions, is a pretty hot look.
4. Attract the best candidates in the field
Poor hiring decisions count for 80% of employee turnover, according to the Harvard Review. It’s not difficult to see why—we know job interviews aren’t the most productive way to gauge a candidate’s ability and it definitely doesn’t give a full 360-degree view of a person’s skill set.
But say you’re looking for a young and talented coding whizz? There’s no better place to find her than a hackathon.
Hackathons are focused on doing, not talking. It means you can instantly see how people deal with fast-paced environments, and what they’re capable of under pressure and working within a team.
And whether it’s a physical or virtual event, hackathons are made up of people who want to showcase their skills and find new career opportunities. Some of them may be actively seeking to establish new professional relationships.
Rather than conducting interview after interview, you can find skilled minds in a talent-rich environment. Watch them in action, reach out to them, and start a new working relationship.
5. Break up the monotony and boost company morale
A hackathon forces participants to work frantically (and often around the clock) on a single project, for a short period of time. Then, it’s time to forget about it and move on completely.
For engineers, coders, and software developers, in particular, that intensity is a welcomed break from the monotony of working on the same products day in day out.
Working for a few hours in teams without meetings or phone calls, towards a common goal can help lift employees out of their normal roles and take a mental break from their usual routine.
When you run a hackathon, you encourage collaboration and creativity in a setting built for team building and positive competition.
And it’s also fun! Hackathons are great fun for participants involved, and the high adrenaline, competitive energy, and ticking clock just make it that much more exciting to look forward to. And even outside engineering and software, the complete change of pace is a great way to boost team spirit if you decide to run an internal hackathon.
And of course, there’s the prize at the end!
6. Produce long-lasting ideas and products
One of the most important reasons why you might want to run a hackathon! By the end of your fast-paced event, there’s a high chance the winning teams(s) will have created a minimum viable product. At the very least, you’ll have fresh new ideas and features you can take away and get to work on.
Facebook’s ‘Like’ button and Microsoft’s GroupMe messaging app, for instance, were both born from hackathons.
That’s not to say the motivation behind a hackathon is to get free prototypes out of talented techies. You’ll probably use your company’s infrastructure to encourage specific projects, but it’s important to give all participants the creative freedom to build out their own idea.
7. Give back to society
The business appeals of running a hackathon are plenty, but hackathons are widely used to help the greater good too. From battling homelessness to saving the planet, there are lots of initiatives working to solve both local and larger social issues.
Capsule, for example, ran a two-day virtual hackathon, Capsule Hack, to find solutions for the current global warming crisis. Rocket Software matches university students with professional engineers to solve local social issues like homelessness in the San Jose area.
Not only can you work to make your environment a better place, but you’re also nurturing young minds to make a real difference with solutions-based thinking. That’s a win-win.
Are you ready to launch your first hackathon?
Organising a hackathon can be highly rewarding, whether you’re a new startup on the scene or if you’ve already made a name for yourself in the industry.
So if you’re ready to launch yours, book yourself in for a free demo of Eventornado to see how easy the planning process can be!
We help all our hackathon organisers get as prepared as possible for their event so rather than wasting time on all the repetitive tasks and planning process, they can focus on building an engaging community and hosting an amazing hackathon.
Want to read more articles? Check out our library of blog posts and guides where you’ll find lots of useful insights and tips for first-time hackathon organisers.
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