What is Hackathon ?
The word “hackathon” has recently become one of the hottest terms in the business world. This term describes an event that pools enthusiastic entrepreneurs or intrapreneurs into a confined space for a half-day or two and challenges them to create the implementable innovative solutions for solving business problems.
However, hackathons are more than a fad for the start-up crowd. Growing numbers of businesses are using the same principles to breakthrough corporate bottlenecks and create innovative solutions.
Hackathons differ from more traditional brainstorming sessions, because they are all about getting results and jump-starting new ways of working—not just generating ideas.
Why Hackathon ?
For many enterprises, the traditional development cycle can require six months to over a year for envisioning, building, and releasing an innovative solution.
Hackathons sharply advance that process. In some cases, we have seen prototypes tested, built out, and scaled in an accelerated six- to eight-week cycle. The result-driven, constructive, ready-made building blocks generated by hackathons can allow enterprises an experience of what the future could be like.
Hackathons can provide that experience in a way that is both exciting and reassuring. By removing some of the perceived risk surrounding innovation, hackathons can be an effective way to accelerate the enterprise transformation.
The major deliverable of hackathon for supporting business growth:
Innovative ideas for specific business challenges
Prototypes or mock-ups of selected ideas
Pitch documents and presentations
Preliminary business cases (Optional)