Success Criteria For A Hackathon - Deepstash

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How to setup and run a successful hackathon

Success Criteria For A Hackathon

Success Criteria For A Hackathon
  1. Participation rate: The target should be set after analyzing similar events within the same corporation and consider things like timing and focus.
  2. Volume of Ideas.
  3. Percentage of Actionable Ideas: the percentage of ideas that are worth further investment from a business point of view.
  4. Percentage of Business opportunities: the actionable ideas that proved to be valuable business opportunities worth of further investment after post-processing.
  5. Percentage of IP-generating projects: those projects eligible and valuable for patent protection.
  6. Conversion rates: the whole batch of ideas/concepts/projects generated should be monitored as a ‘cohort’ against time. This way ideas originated from a particular hackathon event but delivering value only after a period of time, will be also measured as successful outcome.
  7. Opportunities for publicity: measures of ‘media attention’ from the hackathon event.
  8. Team impact: as captured from formal feedback processes offered by participants and stakeholders. This allows many different analysis including the effect on team dynamics and morale.

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Hackathons allows companies looking to hire to see beyond a resume of potential employees. A well themed hackathon identifies people who have a common passion with your organization and expose their behavior through the range of experiences an employee faces while working.

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A Good 24-hour Hackathon
  • Centers on the customer process or journey and supports a clear business target.
  • Involves employees from all relevant areas to find different ways of working a problem. 
  • Challenge participants to reimagine an existing method to try to find the most efficient way to improve the customer experience.
  • Sessions start with ideas but end with a working prototype.
  • Output includes a clear development path that highlights all the steps needed to accelerate production and implementation.
  • The hackathon concludes with a presentation to senior leaders, including a real-life demonstration of the new prototype and a roadmap of IT and other capabilities needed to bring the final version to market.
  • Once the teams agree on what to do, those responsible for execution create a virtual model that the group vets, refines and re-releases in continual cycles until the new process or app meets the desired experience criteria.
  • Management prevents the dissipation of enthusiasm and energy created on the hackathon by placing new processes to sustain it. 
Benefits of workplace collaboration

Employees can share resources, swap perspectives, and boost each other’s creativity.

Collaboration allows us to capitalize on the collective knowledge and expertise of our people, whil...

Downsides of collaboration

Collaborations can be unproductive, time-wasting, and a strain on top employees.

Collaborative organizational structure can drain people’s time and resources, wherein employees are “emailed to death and meetinged to death."

For effective collaboration...

... (or delegation), it helps to know where everyone’s expertise lies. 

Make sure your employees get to know each other, whether that happens through group lunches, coffee breaks, or informal social events. This also builds trust — a vital element for successful collaboration.