Innovation Mindset: The Impact of Hackathons

March 9, 20212 min read
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Hackathons, while not a new concept, have increased in popularity in recent years among prominent companies worldwide. In today’s episode, Yieldstreet Marketing Manager Joseph Sancio hosts Yieldstreet Director of Engineering Alex Kharlamov and Software Engineer Talia Fayaz to examine the ways that Yieldstreet is harnessing crowdsourced innovation. They discuss the value of the innovation mindset through hackathons, the goals, parameters and results of these events, and insights into what investors can expect to see as a result of the first two Yieldstreet hackathons.

Key Takeaways:

[:50] An introduction of today’s guests and the hackathon experience at Yieldstreet.

[2:37] Previous experiences resulted in success at Yieldstreet’s first two hackathons.

[5:47] Innovation and team-building benefits of hosting a hackathon, even during a pandemic.

[8:58] The guiding parameters that made Yieldstreet’s most recent hackathon a success.

[11:19] Challenges and lessons learned from the planning and timing of the first and second hackathons.

[15:16] Key characteristics of the winning teams, including exceptional planning, communication and effective problem-solving.

[17:54] The main focus of hackathons at Yieldstreet is the customer experience.

[19:12] The resulting impact and changes that hackathons brought to an organizational level.

[23:22] A shout out to all the individuals and departments that made Yieldstreet hackathons a success.

[24:21] How does a hackathon differ from an old-fashioned, idea-producing brainstorming session?

[26:36] The benefit of required constraints and product execution in a hackathon.

[27:29] Do Yieldstreet hackathons have a usage or pain point theme that helped drive their efforts?

[28:24] Is there a current Yieldstreet product that resulted from a hackathon?

[29:40] Do hackathon efforts extend beyond software products to cybersecurity aspects?

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