1. Idea Selection: Unleashing the Potential of Hackathon Innovations
While the excitement of the Hackathon may have subsided for now, there is still important work to be done when it comes to "Idea Selection". This two to four-week phase involves an executive judging committee, as well as the Hackathon challenge sponsors, to identify, and select, the most promising product ideas for further development.
This process goes beyond mere recognition of the event's winners and finalists. It aims to uncover product ideas that have the power to create a real tangible impact within the company, while seeking out those rare "moonshot ideas", that could truly disrupt the market and revolutionize the industry.
2. Idea Implementation and Incubation: Bringing Hackathon Solutions to Reality
With the selected ideas in hand, the exciting journey of "Idea Implementation and Incubation" begins. In this phase, the dedicated teams devote their time to building minimum viable products (MVPs), supported by technical and managerial guidance, along the way.
The culmination of their hard work is presented on the much-anticipated "Demo Day", when teams showcase their accomplishments to a panel of senior executives. Based on the outcomes of these presentations, the most promising projects undergo further customer testing and may advance toward a fully-fledged product launch.
This systematic approach ensures that innovative ideas born out of the hackathon, are given the best possible chance to materialize into actionable, high-impact and market-ready solutions.
Creating a greater innovation ecosystem that stands the test of time
Organizing a hackathon is not just about creating a remarkable event — it is a crucial step toward establishing a thriving innovation ecosystem within a company. It is a journey that requires dedication, collaboration, and the involvement of numerous individuals throughout the organization.
At Onova, we are passionate about building enduring innovation cultures that stand the test of time. We are driven by a greater vision of fostering "intrapreneurship" and cultivating sustainable internal innovation initiatives within large companies.
If you are eager to expand and enrich your company's internal innovation landscape, we invite you to connect with our team and schedule a discovery call.