About prize money
The inclusion of prize money in hackathons serves as a double-edged sword, wielding significant influence in both attracting participants and igniting motivation among competing teams. However, the timing and manner in which prize money is dispersed can profoundly impact the outcomes and sustainability of the hackathon experience. While immediate gratification may seem appealing, particularly in the aftermath of an intense and demanding hackathon event, the premature dispersal of prize money without accompanying support mechanisms can have detrimental consequences.
Dispersing prize money directly after the conclusion of the hackathon event, devoid of any structured support or guidance, is a practice that we caution against. This approach risks fostering a short-sighted mindset among winning teams, who may hastily expend the funds without strategic foresight or long-term planning. Without the benefit of ongoing mentorship, training, or access to resources, teams...
