Frankly, I think Lisa’s point here is well-taken for most volunteer endeavors that really should have been accomplished by the sponsoring organization in the first place. Hackathons are great for learning or honing skills and perhaps there are valuable lessons learned. The notion, however, that it’s a model for ongoing business, it probably not realistic.
Originally published on Mama CEO
One of the best known civic mobile app contests is the NYC BigApps Challenge. The competition has attracted hundreds of teams from around the world, all vying for high dollar prizes and the promise of a coveted contract with the City of New York. Since the contest’s inception five years ago, hundreds of apps have been launched – with last year’s winners alone sharing a prize pool of over $150,000.
For the winners, it is well worth the effort. The prize money, especially considering that no stake in equity is taken from the winning team or company, is of high enough dollar amount to recoup costs for time spent developing, testing and deploying the app – and possibly make a small profit depending on the size of the team. Along with prize money, there…
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