Hackathons and partnerships
How hackathons can build company relationships
Published on 19th of February 2024. 1.5 min read.
Hackathons as a way to create new partnerships with other companies or organisations
Hackathons are a great solution to connect the missing dots that a company, entity, or institution might struggle to do on its own.
Many companies rely heavily on external relationships and outsourcing to run their business. Hackathons are a solid way to do that.
Let’s see how hackathons can help a company build relationships:
1. Building relationships
The collaborative nature of hackathons provides ample opportunity for businesses to engage with like-minded organisations, industry leaders, and potential partners.
These events facilitate networking and allow companies to connect on a deeper level by collaborating with experts, mentors, jury members, and external stakeholders.
The relationships forged here can extend beyond the hackathon itself, leading to long-term partnerships and collaboration opportunities.
2. Entering new business ecosystems
Hackathons provide an excellent platform for companies to explore untapped markets and establish their presence in new business ecosystems.
They can also serve as a bridge to cross-industry collaborations, offering fresh insights and opening up avenues for innovation that may not have been apparent within a single industry context.
Moreover, they help in expanding brand reach and visibility across diverse sectors.
3. Accessing outsourcing opportunities
Outsourcing is another significant advantage hackathons offer to businesses.
By attracting external talent with specialised skills, companies can leverage their expertise to accelerate product development and solve intricate problems.
Outsourcing is cost-effective and allows companies to focus on their core competencies while leaving certain aspects of the business in capable hands.
This opportunity can be a long-term one, extending well beyond the mere hackathon weekend.
4. Tapping into external resources
Beyond outsourcing, hackathons offer businesses access to a pool of external resources that would be challenging to create internally.
These events attract diverse talent from different backgrounds, offering fresh perspectives and innovative ideas.
This influx of creativity and innovation can be a game-changer for companies looking to stay ahead of the curve in their respective industries.
This is a way to connect the missing dots.
5. Partnering with startups
Partnering with specialised startups is another significant benefit of hackathons.
These nimble entities can provide innovative solutions that help businesses close gaps in their products, services, processes, or solutions.
This collaboration can lead to improved efficiency, better customer experiences, and ultimately, a more robust business model.
Let's talk today if you’re interested in organising a hackathon with an experienced hackathon provider to expand your company relations.
