Hackathons: Why they make sense for your company
Organizing an internal hackathon for software engineers in a company that has a technological product can provide several significant benefits.
In my professional and personal life, I’ve participated in several Hackathons. When I was at the University of Oviedo, I had the pleasure of participating in the II Open Data Fest Gijón, which was my kick-off for this kind of event.
More often companies are organizing internal Hackathons. According to this research from HackerEarth:
Over 80% of Fortune 100 companies conduct hackathons to drive innovation. More than 50% of the hackathons are recurring events, indicating that they are a reliable tool for sustained innovation…..
A Hackathon implies that most of the engineering workforce is not working on features, support, etc, and is fully dedicated to the Hackathon event. This has an important cost for companies; engineers not working on features is money lost. Or maybe not. Why do companies invest so much in having 1 or 2 (or even 1 per quarter) events like this per year?
In today’s issue, I cover:
Benefits of an internal Hackathon
What a hackathon must put in value
Benefits of an internal Hackathon
The exciting thing about these events is that they are not just about abstract ideas. Participants work on concrete prototypes, allowing a quick assessment of the viability of the proposed solutions. These prototypes can become real improvements for products and processes, providing the company with a tangible competitive advantage.
Hosting internal hackathons is not just a development strategy; It is a statement of the company culture. By demonstrating a commitment to creativity and continuous improvement, you establish fertile ground for innovation. This approach not only attracts new talent but also nurtures and retains current employees who seek an environment that fosters innovation.
The beauty of hackathons is that they are not only a breeding ground for internal improvements; They can also open doors to previously unconsidered business opportunities. Direct feedback during these events provides valuable information to refine ideas and overcome potential obstacles.
What a hackathon must put in value
Innovation. This is for me the magic and important word. Innovation is what the company should aim for and what should be communicated to the participants. The jury should reward the innovation on top of any other consideration. Of course, I mean innovation that is related to the company's mission and vision.
Healthy competitiveness. A Hackathon is a contest, a safe contest, in which the participants should feel free and safe to participate.
Have fun. When people have fun, they go all out, working day and night, getting out all they have to prepare the best idea to win, hence putting in silver tray plenty of amazing ideas that the company would take for the incoming roadmap.
Final words
I must confess that I’m a big fan of the Hackathons. My magic moment is when I’m coding with my team in the prototype, all together, each of us having our “minutes to shine” solving problems to reach the goal we set.
If you need arguments to convince your management about the benefits of having a Hackathon event within your company, at the end of this issue I’ve put some interesting research about it.
Are you used to participating in or organizing Hackathons for your company? What do you like the most? Drop a comment! Willing to hear about your experiences!
Research about Hackathon’s benefits
Some papers remark on the importance and benefits of having Hackathons within companies.