In the last few years, the investment took a new route to focus on innovative ideas and consider the creative power of the youth as one of the essential elements that can contribute to the world. The process of finding and evaluating the ideas is complex, which makes a hackathon a type of competitive event that is tremendously vital for entrepreneurs and incubators as well.
In this article, we will discuss a hackathon event in general. It occurs annually in many parts around the world, including Egypt, to open a gate of knowledge to those who believe in their ideas and hope to manage it in real life.
Hackathon is the headmost innovation competition and they take place in Egypt too. It’s an event where the entrepreneurs can display their ideas with the attendance of a significant number of investors, and incubating sponsors who find the viable projects as the future of the global investment.
During the event, the participants are supported by all the items that can help them to display their idea in the best possible way, such as laser scissors, electronic boards (Arduino), 3d printers, free tools and more. Also, there is be a proper consultation to help the participants to come over the possible challenges during their trip.
A hackathon is not just a competitive event, because there is an adaptation for the entrepreneurs to make them aware of all required tips to develop their innovative ideas in the best possible method to make attractive prototypes. After all, the aims of Hackathon beyond the event, through producing professional entrepreneurs, can raise the socio-economic level.
The prizes are in the image of financial support from the sponsors and there are many successful projects and participants took this event as a turning point to build up themselves in the Egyptian market.
How to Create A Hackathon
The competition can differ in its ways. Below are some points on how a hackathon is run.
Firstly, the organizer sets the most impactful challenges for Egyptian society, such as poverty, gender empowerment, raise social awareness, and so on.
Secondly, around 400 to 500 participants/ projects that apply to the first stage. Then these projects got filtered by three other steps, and until they become only three projects, compete on the prize of funding by a sum of money and technical support to the project.
The Goals of a Hackathon
Hackathons can play different roles and can work on different objectives. Some of the most popular ones are outlined below:
- Investing in the ideas of the entrepreneurs
- Developing skills of software engineers
- Increase the socio-economic level of the community
- Face the public problems, through utilizing the technological advancement solutions such as health or financial inclusion