Hackathons are a great way of driving open innovation - their goal is to find solutions for existing problems, develop new products and services, and accelerate corporations beyond what they could do indoors.Don’t get us wrong. In-company or internal hackathons are also a great way to drive your business forward, but by launching an open innovation hackathon, you can obtain results from people all over the world, from different backgrounds, perspectives, and fields of expertise. Moreover, sometimes the problem is not just developing new ideas, but letting go of old habits. Habits are comfortable. We tend to like comfort. But they also lead us to tunnel vision and make breakthroughs harder. At TAIKAI, we consider ourselves lucky - we work on a daily basis with incredible companies from all over the planet, looking to put their businesses at the forefront of innovation.What makes a hackathon great?You don’t need to be a Silicon Valley company to have people committed and ready to find solutions for you. What you need instead is to make sure your hackathon is well-thought, thoroughly prepared, and aligned with the community. This will ensure high levels of engagement and participation, as attendees feel more connected to the event's goals and motivated to contribute their best ideas.We’ve compiled five standout examples of the best open innovation initiatives hosted here at TAIKAI - an all-in-one hackathon platform to host and manage your challenge. Here are the 10 reasons to use an all-in-one hackathon platform such as TAIKAI.Here are the 10 reasons to use an all-in-one hackathon platform such as TAIKAI.In order to come up with this list, we’ve considered the following criteria: Resources provided by organizations Challenges quality Community AlignmentPrizesWithout further ado, here are the best company hackathon examples and ideas:Starknet Winter Hackathon390 participants43 projects deliveredPrize pool of $50,000Starkware is a leading blockchain company specializing in zk-rollup technology and scaling the Ethereum blockchain. One of Starkware's scaling solutions is Starknet, a permissionless layer 2 network where any user or developer can deploy smart contracts developed in the Cairo language.This technology was the focal point of the recent Starknet Winter Hackathon, which challenged participants to build innovative applications leveraging Starknet's capabilities.The goal 🎯The Starknet Stack is quickly becoming the most decentralized L2 stack, which led Starkware to host a web3 hackathon to accelerate the development of decentralized applications utilizing their technology and engage the developer community in building solutions with their stack.Main takeaways ✔️Trusting the organizational process to hackathon experts is a game-changer 🤝Organizing a hackathon is no small feat, especially without the right experience or support. That is why Starkware relied on TAIKAI’s consultancy services to streamline the entire organizational process and simplify the operational workload for Starkware.Leveraging our experience in hosting over 180 hackathons, TAIKAI ensured that each phase of the hackathon, from the initial kick-off to the final presentations, was carefully planned.Relying on the experience of hackathon experts like TAIKAI not only alleviates the complexities of organizing such events but also ensures an enriching experience for all participants, judges, and stakeholders involved.Promotion is key 📣Promoting the event is a crucial step in attracting the right talent and ensuring the event's successFor the Starknet Winter Hackathon, a multi-channel communication and promotion plan was developed to attract a diverse pool of participants who were interested in the challenges and opportunities presented by the event.Using both organic and paid content, and reaching out to TAIKAI’s 80,000+ builders community as well as external audiences, the event attracted an impressive 390 builders to participate in the hackathon.Learn the full story of how TAIKAI made Starkware’s hackathon a success by reading the complete case study here. Tickethon by Wiener Linien145 participants 45 projects delivered 20,000€ in prizes + extra perksWiener Linien - Vienna’s public transport operator - is responsible for roughly 180 underground, tram and bus lines. To put it in perspective, on average, there are about 2.6 million passengers using the Wiener Linien network every single day. Not only that, but their public transport vehicles cover a distance of 214,000 kilometers - which is about the same distance as orbiting the earth 5 times! Because public transportation in Vienna uses a gateless ticketing system, they have inspectors inside the vehicles or outside the stations to validate passengers' tickets.This, in turn, takes time. Inspectors try to validate tickets as fast as they can, but there’s always a chance of long waiting lines and overcrowding, depending on the number of passengers at any given period. To make things harder, passengers can use paper or digital tickets, through their WienMobil app. Wiener Linien conducted research, prior to the hackathon, and found out that there’s been a growth in the use of digital tickets. While this might seem good at first glance, it actually wasn’t. It took passengers up to 10 times longer to validate the in-app ticket. The reason?It all comes down to the steps it takes. Commuters have to find their phone, unlock it, find the WienMobil app, open it, find the tickets tab, and then show the ticket. On the contrary, physical tickets were easier to present because it required a lot less steps - passengers had it in hand, in a pocket, or in a wallet most of the time, and just had to show it to the inspector.The goal 🎯 Their goal for this hackathon was not to delete the WienMobil app and go back to full-paper tickets, but instead, to find solutions to improve and accelerate the digital ticket validation process. In its core, the challenge was to create a prototype to validate tickets as fast as possible, starting after the passenger located their phone. The winning project would be the one that could achieve 3 goals: solve the problem, ensure a smooth operation, and improve the passengers' experience. Main takeaways ✔️Power to the people ✊Using hackathons as an open innovation challenge can be the answer to overcoming many problems. Instead of outsourcing or trying to figure it out in-company, Wiener Linien used the power of the community to aid them.And the community showed up! With almost 150 participants and 45 completed projects, it goes to show that the power of hackathons is enormous. This open hackathon wasn’t meant to reinvent the wheel, either. Instead, the community understood the power and value it provided, knowing they could help millions of people in their daily commute by optimizing a simple process.Conduct your research 📊Collecting data has always been important, and more so in today’s digital world. Once you have real, palpable data, you can really understand the scope and dimension of the problem at hand. Knowing that validating digital tickets was taking 10x longer than paper tickets, is better support data than just realizing it was taking more time overall.Small steps go a long way 👣As you can see from this example, innovation comes in different sizes and shapes. Something so ordinary, such as showing a ticket to an inspector, can be a costly and inefficient process for the company behind it and its users. Innovation lies everywhere, and every step of the way.Data Challenge by Landing.jobs142 participants 14 projects delivered 1,750€ in prizes + social tokensLanding.jobs is a job marketplace that connects companies with tech professionals, such as software engineers, data scientists, and product managers. Every year, they research and survey the Portuguese tech community and launch their Tech Careers Report: an in-depth report that analyses salaries, schedules, benefits, motivations and other important data in the Portuguese tech industry.The goal 🎯The goal for this open innovation hackathon was to improve the Tech Careers Report, by analyzing the raw data and developing ways to improve the quality of the insights. Main takeaways ✔️From the community to the community 🤝 Landing.jobs leveraged their biggest asset - the community - in their favor. The TCR is made for them. By having a chance to build on top of it, data experts were able to contribute positively to a better analysis that ultimately, can help the community make better and more informed decisions.Niche down when you have to 🎟 Even though Landing.jobs has a massive community in the computer science field, they clearly knew the best participants would be the ones interested in data science, specifically. They allowed anyone from the community to join and participate, but the target was clear. Also, who would have more interest in developing a data report other than data geeks?! 😄Building the Future by Microsoft101 participants9 projects delivered5,000€ in prizesThe tech giant Microsoft returned to hackathons in 2021 and brought us the “Building the future Hackathon”. After the tough year of 2020, this hackathon was meant to drive inspiration and innovative ideas to push the boundaries of technology. In more practical ways, the challenge of this open hackathon was to come up with solutions for electric mobility, and power in a more environmentally friendly world 🌎The goal 🎯Microsoft challenged participants with not just one, but five different innovation categories, ranging from turning parked cars into sources of revenue for owners, designing infrastructure for shared electric mobility vehicles, to even using blockchain technology for mobility applications. Main takeaways ✔️ Focus on one category of your business 💡If your organization is involved in a variety of industries, it may be tempting to organize a hackathon to cover all of them. While this may result in more registrations, the truth is if the themes are too broad, initiatives can become scattered or overly general. In turn, you might end up with a lot of projects or solutions for diverse segments, but only a few within each category.Microsoft, a technological business with a wide range of products and services, opted to focus solely on the subject of electric mobility in this open innovation example. Find the right partnership 🤝 Microsoft partnered with Galp - a Portuguese multinational energy corporation, and gowithflow, a startup working towards sustainable mobility. These hackathon partnerships with relevant companies are fantastic. They strengthen the perception of authority and quality of the hackathon, and also provide support during the event planning and mentoring stages.Social HackaCOM by Instituto GRPCOM833 participants 36 projects delivered Prizes comprised of over 1500€ in products (tech gear, mentorships & memberships) Social HackaCOM is an innovation and communication marathon. They focused on digitally connecting academics and professionals with transformative talent potential, who want to work with purpose and achieve a positive social impact. The Brazilian host, Instituto GRPCOM, focuses on establishing projects that adhere to the group's ethical beliefs and corporate social responsibility principles.The goal 🎯This innovation hackathon was open to participants from different fields of expertise, ranging from communications, digital marketing, web design and many others. It consisted of four challenges: performance & optimization-based solutions, communication strategies, resource management, and remote activities.Main takeaways ✔️ Co-hosts can go a long way 🔥Instituto GRPCOM had 7 different co-hosts for this hackathon! Having this many companies promoting the event is bound to bring you some incredible results when it comes to the number of innovators that participate in the challenge. And they did not disappoint. With over 800 participants, this is one of the biggest challenges we’ve hosted to date! Also, it was an open innovation challenge, but exclusive to Brazilian residents, which makes this milestone even greater.Everybody’s welcome 🫂While in other hackathons niching down was a great option, it’s not always necessary or adequate. For this challenge, it made sense to promote it to a broader audience given the context and challenge characteristics. You should always set clear expectations and goals you want to achieve with a hackathon so that you can later determine what type of participants you want to target.Now, it’s up to you 🚀These were only some of the best open innovation examples we’ve hosted here at TAIKAI. The variety of challenges, the scope of the problems and solutions is something quite fascinating to look at when you put them together. From big tech corporations like Microsoft to local companies like Wiener Linien, there’s room for innovation in every industry and every size.Hopefully, these five hackathon ideas and examples provided you with valuable insights to host your next (or first) hackathon.Hosting a hackathon can be challenging on its ownThat’s why at TAIKAI we developed a complete virtual hackathon platform that’s easy and quick to set up. In a few steps, you can host a hackathon, manage participants, connect with them, live stream your event, form teams, and evaluate submissions - all in one platform.TAIKAI also provides consulting services designed to provide end-to-end support for your hackathon, ensuring a seamless experience from initial concept to final execution.We cover all aspects of the event, including design, management, and promotion, to guarantee your hackathon is a resounding success.It’s your turn to drive innovation and engage with your community. Talk with us today or Request a Demo, we’re always here to help :)