Understanding Startup Hackathons

July 26, 2020

Results and Analysis

There are different types of hackathons, and startup hackathons are one of them. At the most basic level, hackathon is a design sprint-like event, in which team members collaborate to create the most effective design. That is why hackathon is the combination of the words hack and marathon. Hackathons truly encourage innovation and encourage its participants to design the most innovative products. 

Things You Need To Know About Hackathons

“Hackathons encourage people to work together to solve challenges using satellite data and apply the knowledge to benefit all”1. Thus, these hackathons work as platforms that encourage participants to focus on solving mega problems. This feature of the hackathons leads participants to establish strong startups or grow their startups through finding investments and new resources. Overall, Hackathons foster entrepreneurship and encourage innovation to solve challenges. There are many strong companies that were formed as the result of a hackathon in addition to startups that grew with the investments received during these competitions.

In startup hackathons, there are usually certain categories and subjects. Usually, startups are categorized based on their developmental phase and subject. Criteria for successful startups differ in different competitions based on the jury. However, usually, startups are evaluated based on their social impact, originality, and feasibility. Understanding the expectations of the hackathon, having talented and innovative teammates, and having feasible and valuable ideas will make you successful in a hackathon. 

Mentorloops Hackathon

Mentorloops is organizing a startup hackathon on an online platform between August 8-11. During the first two days, participants will participate in workshops, given by professionals in their fields, on a variety of topics such as improving an idea and business value. After these two days, contestants will pitch their ideas to the juries and receive feedback. The winners will receive important investments and mentoring to turn their idea into a startup, and a startup into a strong company. For more information on the Hackathon, you can visit our website. 

You can read a more detailed article about startups via this link.

1https://ied.eu/project-updates/hackathons-can-create-startup/

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