While the hackathon format has been around for decades, in recent years, they’ve become more popular as a way for companies to promote innovation, attract talent, and boost skills. What’s in it for the participants? And what are corporate hackathons about, and how do such events take place? Let’s dive in!
First things first, what’s a hackathon?
As a rule, this is a short-term event for several competing teams aimed at bringing digital or tech products to life. Multiple organizations host hackathons that typically last 1 to 3 days, often during weekends. They invest in this to attract talent and see fully functioning products at the finish line.
Generally, practically anyone with due skill can apply for hackathon participation, either as an individual or a team. And commonly the main motivation is winning a large prize.
Why do people participate in hackathons?
Investing several days without sleep into building a product is harsh. So why are enthusiasts up for such a challenge?
Well, the hackathon benefits don’t go down to just winning a prize or getting recognition. They’re also about developing new skills, networking, and learning from your peers.
➤ For participants, hackathons offer an opportunity to showcase their skills, meet new people, and potentially develop a new product or service.
➤ In addition, hackathons provide a unique chance to work on real-world problems with a team of like-minded individuals. This can be a valuable learning experience, even for those who don’t walk away with a prize.
What’s a corporate hackathon?
Some hackathons are hosted in-house. This implies hackathon participation by the employees of a specific company (therefore, no one from outside the organization can get admitted to the teams).
Giving a specific example, Upsilon held its first in-house hackathon in August 2022. Because the company mostly works with startups, the CEO, Andrew Fan, believed that challenging the employees to go through the entire project launch process can be highly beneficial. And he was more than right!
The participating teams had the chance to win a prize, overcome tight turns, gain many new skills, and obtain a product mindset. The competition lasted for more than a month, and four teams worked on their projects on weekends and in their free time. They’ve been through many highs and lows, yet the hackathon resulted in 4 functioning products.
Are you intrigued? Find out all the Upsilon 2022 hackathon details, meet the teams, browse their products, and see the recommendations they give (what they’d do differently, what to keep in mind when launching a startup or product, and more):
