The only ecosystem blog you'll ever need
Hack Your Way to Innovation
January 28, 2020
In 2019, there were approximately 7,300 public and internal hackathons held to drive innovation and meet company-wide objectives. Corporations are trading the traditional long-winded research and development process for these short-term events to create business solutions quickly and more efficiently. Though in theory, it sounds irresistible, the struggle companies face is execution: companies need to have the infrastructure and management tools in place to successfully drive innovation, and consequently revenue generation, within their organizations.
Enter Ecosystem Management-as-a-Service. With EMaaS, companies can setup the tools they need and successfully market their hackathon event, whether publicly or internally, 8X faster than ever before. Additionally, once the event is over, EMaaS provides analytics to help determine necessary changes for the future. Since EMaaS also has the capability of functioning as an external or internal digital business ecosystem, a hackathon serves as a great way to introduce innovators to your platform and then launch an ongoing digital business ecosystem community.
Among the many reasons for hackathons, there are a few corporate objectives for public hackathons and for internal hackathons that companies share:
- Recruit fresh, top talent
- Collaborate with startups
- Quickly launch new products and services
- Motivate and equip internal teams
- Launch intrapreneurial initiatives
- Strengthen cross-silo collaboration
In hosting a hackathon, companies can bring developers, engineers, data analysts, and marketers into one space to accelerate growth in unparalleled ways. With a diverse group of individuals collaborating on a given strategic initiative, companies can tap into the unique backgrounds of their participants to create a solution greater than the sum of the parts.
Interested in hosting a hackathon to drive innovation and revenue generation but not sure how to get started? Request a demo of our EMaaS offering, and we will get you started!