How much does a hackathon cost?
Budget to run a hackathon, explained
Published on 12 of February 2024. 2 min read.
The hackathon price range
The budget to organise a hackathon ranges from €4K to €80K.
Sometimes, for very complex events, these figures can surpass €100K.
The final price depends on the targeted number of participants, the hackathon nature (virtual, hybrid, or physical), the duration of the event, the active participation of external mentors, the hackathon prizes, and a myriad of other factors.
In this article, we’ll break down the cost tiers of the items that concur in the final price for each one of the most common types of hackathons.
Before you deep dive, make sure you’re familiar with the difference between virtual/physical hackathons and external/internal hackathons.
This article might help a lot.
Table of contents
Virtual hackathons cost breakdown
1.1. DIY virtual hackathon
1.2. Virtual hackathon with basic help
1.3. Turnkey virtual internal hackathon
1.4. Turnkey virtual external hackathon
Physical/hybrid hackathons cost breakdown
2.1. Physical/hybrid internal hackathon
2.2. Physical/hybrid external hackathon
Additional/extra costs
What are the factors influencing the pricing of a hackathon?
Which hackathon costs are fixed and which ones are variable?
Conclusion
We will start with the basics, building up to the most complete event possible.
1. Virtual hackathons cost breakdown
1.1. DYI virtual hackathon
Price tier level: lowest
Applies to: internal and external
Concurring costs:
Hackathon platform license fee
Number of active users on the platform
1.2. Virtual hackathon with basic help
Price tier level: low
Applies to: internal and external
Concurring costs: all the above, plus:
Hackathon platform management services such as platform population, facilitating team formation, 24/7 technical support during the event
1.3. Turnkey virtual internal hackathon
Price tier level: medium-low
Applies to: internal
Concurring costs: all the above, plus:
Hackathon graphic materials
Hackathon website
Hackathon design engineering and project management costs
Hackathon goodies
1.4. Turnkey virtual external hackathon
Price tier level: medium
Applies to: external
Concurring costs: all the above, plus:
Marketing, promotion, and outreach campaign to target and onboard the hackathon participants
2. Physical/hybrid hackathons cost breakdown
2.1. Physical/hybrid internal hackathon
Price tier level: medium
Concurring costs:
Hackathon graphic materials
Hackathon website
Hackathon design engineering and project management costs
Hackathon goodies and onsite materials such as roll-up banners
Venue, facilities, wi-fi (only if the event is held outside the company premises)
Catering
Special guests and speakers, only if required.
2.2. Physical/hybrid external hackathon
Price tier level: medium-high
Concurring costs: all the above, plus:
Marketing, promotion, and outreach campaign to target and onboard the hackathon participants
3. Additional/extra costs
All the above calculations do not include the following costs:
Prizes
Participants’ transportation costs.
Risk contingency fund
Post-hackathon mentoring, acceleration, and incubation programmes.
Employees’ man-hours for internal hackathons.
4. What are the factors influencing the pricing of a hackathon?
The final price of a hackathon depends on:
The hackathon nature (virtual, hybrid, or physical)
The final number of participants, which has an impact on:
the promotion and outreach campaign costs
the venue and catering final costs
the goodies costs
The duration of the event
The active participation of external mentors, speakers, and experts
The hackathon prizes
5. Which hackathon costs are fixed and which ones are variable?
In a hackathon cost structure, we can define some costs as fixed and others as variables:
Fixed costs usually do not change no matter the nature of the hackathon
Variable costs fluctuate depending on the event complexity and scale
Here are some examples:
Fixed costs
Hackathon graphic materials
Hackathon website
Prizes
On-site marketing materials (roll-up banners, posters, etc.)
Variable costs
Here are some costs that are proportional to the number of participants and the event complexity:
Hackathon platform license fee
Hackathon platform management services
Hackathon design engineering and project management costs
Hackathon goodies
Marketing, promotion, and outreach campaign
Venue and catering
Speakers’ and experts’ contributions
Participants’ transportation costs.
6. Conclusion
There’s no magic formula to define the price of a hackathon. The event complexity and its scale drive the final amount.
The takeaway is that hackathons are suitable for any type of organisation with any level of budget.
Reach out to us in case you’d like to get a tailored quote to organise your hackathon.
