The terms Hack and Hackathon are used interchangeably - here is more information
The terms “Hack event” and “Hackathon” are in most ways the same thing. Both terms describe events where small multidiscipline teams spend 1 or 2 days intensely collaborating to create new software or physical product prototypes. The differences are
- Hack Event – this term is often used for “internal only”, informal, or industry collaboration events focussed on overcoming shared problems.
- Hackathon – this term is often used for commercially-focussed competitive events, where technical companies promote their products and try to attract and recruit promising talent. Participants can win impressive prizes, and usually eat lots of Pizza, and work through the night.
The term “Hack” on its own is often used to describe uninvited or illegal access into networks or software, and it is important to note that “Hack Events” are not about this!
By Business Documents UK Ltd Team . Published: 2019/08/14 6:24:55 PM, Last Updated: 2019/08/14 8:54:15 PM Answer URL
Hack Events are widely adopted as an innovation tool
Stats during 2018-2019 indicate that Hack Events are increasingly popular as a format to drive innovation. Hackerearth sites that Over 80% of Fortune 100 and 60% of Fortune 500 companies have hosted or sponsored a Hackathon, and more and more of them are doing it regularly.
Done badly, or just done once, they provide limited ROI
Hack Events, or Hackathons, should be part of an ongoing, concerted innovation programme. One-off events may be enjoyable, but they won’t deliver the next Unicorn; they need to be part of an ongoing programme in order to generate a viable innovation pipeline.