Hackathon: Why To Use It For Business? Can It Boost Growth?

You can always make the progress that you desire for. You always carry out different programs, perform actions and make efforts for better outcomes but do you try new things? Have you tried the concept of hackathons? What do you think about Hackathons?
Hackathons to grow the business —
Businesspersons used to search for How to conduct outstanding hackathons? Key features of the hackathon platform? How to run a company hackathon? How do hackathons help your business grow? And so on...

You know what once you use the hackathon platform for your business growth, you can harvest the best outcomes.

There are some promising perks of conducting hackathon and you can have a look at the benefits of hackathon below:

• Driving different types of business innovation
• Analyzing data to create predictions
• Exploring fresh technologies
• Sourcing development programs
• Branding of an organization or products
• Creating potential startups
• Finding out solutions for social causes
• Rewarding imaginative and innovative thinking

For this concept that concentrates on the output, the objective purpose is IP development, robust branding, or even innovation. Similarly talking about the internal hackathon, it confers the below-given advantages:

• Reinforce the values of a company
• Helping in assessing the company’s present employee pool on the grounds of the team collaboration ability, presentation skills and so on.
• Trigger engagement by concentrating on self-directed and fresh learning
• Create a diverse and supple work environment by motivating vested groups and teams
• Boost transparency in the management by enabling talent mobility and making u sure a culture of recognition
• Enhances ideas from the existing talent of a company
• Give employment to individuals with the proper skills and attitudes

These are the platforms that can be used as an effective innovation management software and work as platforms to interrelate and ideate for developing interesting products and process. Such platforms just take individuals and organizations toward better outcomes.

What should you really know about the HACKATHON?

A hackathon is a competitive concept or event wherein teams of developers, designers, professionals and subject matter experts collaborate to form solutions for a specific type of problem inside a defined time frame. The goal of this program is to construct a working prototype in the shape of a website, an application, or even a robot to solve an expected problem. It is even known as hack fest or hack day, the program caters participants the chance to work together, network and productizes their ideas. However, the most known form of a hackathon is an offline or physical one. It usually lasts for twenty-four hours and it is usually scheduled on the weekends. Participants are driven to come up with innovative solutions to solve problems statements for specific themes mentioned in the hackathon.

For the participants and attendees, this program of the hackathon is an ideal platform to explore fresh technology, work on a project they are devoted about, and form a working proof-of-concept in a short duration of time. It is also a chance for them to join forces and network with like-minded people who are determined and fervent about constructing products. Hackathons are no longer restricted to just the developer community. Anyone or anybody who can contribute to creating a product can take part in a hackathon. It is like an enhanced platform for learners and developers and overall professionals.

Organizations generally conduct this type of concept to encourage innovative problem solving, initialize innovation and construct brand awareness. Various companies perform the internal hackathons inside their organization to engage their employees and endorse a collaborative work environment. Apart from this, external hackathons are assistive for firms in finding and recruiting innovative and talented professionals at an affordable cost than conventional recruiting methods. Instead of going through boring rounds of interviews, firms can measure and evaluate the potential candidates by their overall performance in a hackathon. Relying on their objective, firms might thus opt for either an external hackathon or internal hackathon. It is always the choice of organization to choose either internal or external hackathon.

Sustain innovation in your business.

In this present time digital era, the success of an organization depends on its ability to sustain innovation. To satisfy growing customer expectations and beat the growing rivalry, companies must innovate fast and construct fresh features to improve their product or service. The largest advantage that a hackathon caters is a structure to gauge creativity and build fresh features. Concrete ideas ended up from hackathon can help the organizations offer better customer experience and augment revenue.

Conventionally the responsibility of creating creative and innovative services, products and business models was linked only with a handful of individuals and people within the organization. Generally, a dedicated R&D or the Innovation Department is given the responsibility of the work. In this present time, companies, both big and small perform hackathons to activate innovation. This concept is turning out to be really popular amidst both small and big organizations. Whether a start-up company or a big multi-national business; everybody is appreciating this concept of innovation, learning and exploring.

Companies are scaling innovation by reaching out to everybody within or outside the organization as different from depending on just a handful of people. With these platforms, organizations can now conveniently find out solutions, from both internal and external spectators, with a small investment of effort time, and capital. With such an approach, the groups or team mainly responsible for innovation works with the whole hackathon crowd to manufacture ideas, create the proof of concepts and then perform the shortlisted ideas for growth and development. By offering a structure to develop ideas, a hackathon chiefly makes it convenient for companies to implement innovation.

In case you take a look at the history, innovation does not arise just from giving people incentives but it also derives from generating environments wherein their ideas can link up and bloom. Certainly, when there is a program or an event where folks from different places, organizations, and backgrounds mix up for discussions and learning; outcomes are destined to be ground-breaking only.

Bottom Line

Thus, having a hackathon would be a great benefit to your business. You must not miss out on this concept for a step towards innovation and growth.