Five ways a technical Hackathon can help your organisation

Five ways a technical hackathon can help your organisation
Picture of Amrit Satpathy

Amrit Satpathy

Ecosystem Manager

A technical Hackathon is a competitive coding marathon, with the objective of creating a tech solution to an industrial or societal challenge such as customer data privacy or finclusion. It is conducted in a competitive environment, extending over a period of time.
A hackathon brings together creative minds including coders, designers, business professionals and decision-makers to collaborate and develop innovative solutions to pressing challenges and creates an environment where the process is of more value than the end goal. Hence, emphasis is laid on learning, brainstorming and creating efficient solutions for the problem statement.
  • Promotes Ideation and Innovation: Hackathons allow candidates to focus on a problem, identify its dimensions and develop a pragmatic and innovative solution. Diverse teams also give different innovative propositions to the same problem.
  • ‍Promote Your APIs: Hackathons are an excellent way to invite candidates to work on public APIs and expedite API adoption. They dramatically increase the number of active developers and applications using your platform and APIs. This raises the number of API calls and generates significant revenue.
  • Talent Sourcing: Hackathons draw enthusiastic talent to the problem space. This can include technical specialists and talents that are difficult to recruit conventionally, putting them in a competitive environment and allowing them to showcase their talents—aiding recruiters in identifying and sourcing the right talent based on the skills and proficiency demonstrated at the technical hackathon.
  • Brand awareness: Hosting a hackathon can create substantial publicity by positioning your organisation as an innovative and disruptive platform. With good media coverage, the event attracts curious developers who want to explore more about your business initiatives and work with you. It also helps attract co-organisations from the tech marketplace willing to form partnerships.
  • Build Developer Ecosystem: Engaging external developers with the platform helps explore more test cases, invites developer feedback and gives an opportunity to implement the feedback to improve the platform. It inspires the developer community to contribute to open-source technology.

The role a technical hackathon can play in achieving progress

Hackathons accelerate the innovation process and inspire high-quality ideas in a short space of time. It provides a proven avenue for organisations to promote innovation and progress in the development of ground-breaking technologies and solutions in a cost-effective way.
Further, for the candidates from academic institutions, hackathons add experience and exposure to the academic environment and contribute towards building the next generation of tech talent.
Conducting the right technical hackathon will allow organisations to reliably build and extend a steady competitive edge by both leveraging and developing new innovations and upskilling their technical staff through first-hand experiences in working with the latest tools and technologies in the industry, offering seamlessly adaptability and unhindered performance throughout.

Reimagine hackathons with NayaOne’s marketplace

NayaOne’s tech marketplace provides access to more than 1500+ APIs and 300+ datasets to engage the ecosystem and rapidly build and evaluate industry solutions as PoCs.
Get in touch with our team to collaborate with NayaOne and to maximise the success, results, and effectiveness of any hackathon that your business conducts.

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