Many new-age software companies, such as Apple and Google, have internal programs to incentivize burgeoning inventors lurking in their companies. These companies realize that crazy hot ideas for the next wave of innovation could come from the most unlikely of places. But even companies that have driven the tech wave for the past four decades find themselves in time crunches and are forced to suppress product development in the name of efficiency.
In some instances, it’s best for these companies bottom lines if certain innovative products never make it to market. There is also a question as to if a product’s ROI justifies a company’s investment of time, money and developer knowledge.
Bottomline: companies are often TOO busy working on the current best thing to come up with the next best thing.
With the role of a software developer reduced to following a preset project plan and without much room for growth, and the need of project managers everywhere to stifle scope creep, hosting hackathons are necessary for the development of that next life-changing software and/ or app.
But, why should Silicon Valley have all the fun? Hackathons can be hosted everywhere and anywhere and with little monetary outlay for the hosting company. Not only that, many companies around the world now use hackathons as team building exercises and are a great way to increase employee morale.
We believe that Hackathons have the to potential to be the may be just the thing that allows such employees to get ideas out there that could pay off big for the company, and the public as a whole.
Here are our TOP 4 REASONS WHY HACKATHONS SHOULD BE A CRUCIAL PART OF YOUR COMPANY’S BUSINESS PLAN
- Judgement Risk-Free Environment
During the average work day, employees only have so much time and resources to devote to new products. Brainstorming is shunted to the backburner and any new products that could cause their company’s CFO to do backflips with joy never come to fruition.
Hackathon solves this by giving the employee a set time, say 48 hours, to come up with and showcase products that could potentially take the world by storm. Better yet, this strategy isn’t only limited to tech companies. With 3 developers and 1 business-minded person on a team working 48 hours that’s 192 hours over a weekend. That is close to a month of work! ANY company could benefit from having a months’ worth of work accomplished in only two days!
So why go through all of that stress trying to test your product in a stressful environment?
2. Experimental Experience
In the world of Millenials, anything produced yesterday is considered old and boring and companies have the choice to either innovate or perish. This doesn’t mean they can afford to be reckless with what they choose to bring to market. This rock-hard place existence is a reality for today’s companies.
With Hackathons, employees and employers not only devote 48 hours to developing a new idea, but can also try out all sorts of new, crazy, and potentially risky ideas that may or may not work. This way, instead of losing months worth of time on it, they only lose two days.
3. More Unity Among Your Competitors
Hackathons also offer a unique opportunity for employees and employers of rival companies to share with each other some of their new secret sauce they’ve been working on or even put their sauces to the test in a competitive but friendly environment. This allows for unique, short-burst collaboration opportunities between two rival companies, such as Apple and Microsoft.
According to David Dodge from Codakid,
It’s paramount that participants learn about the value of collaborative teamwork and the power of good communication
As such, hackathons can help companies foster this ability for companies to work together and collaborate with one another on projects without risking losing billions of dollars on a single project.
4. Develop Important Connections With Participants and Judges
One of the best things about Hackathon: It’s an opportunity to network. Not only do members of your company’s team get to scout out talent and recruit aspiring people, but you also get the potential to make business connections with other major league players in the room.
You can even make lifelong business partners and friends while you’re there.
Conclusion:
In short, the Hackathon is a great opportunity for both solo artists and companies alike, and we cannot stress enough just how much potential an event like this has for the two. If you agree and are interested in learning more about Hackathons, what can be gained from them, and how to bring your A-game, then keep your eyes peeled for more of our articles from the Twelve Days of Hackathon series.
I’m a 20-something stay-at-home mother and wife. I have an amazing husband, a beautiful daughter, two loving dogs, and a lazy cat. I wouldn’t change my life for anything! I love to read, listen to music, cook and blog!
Speak Your Mind