Measuring the performance of the innovative potential of the academy on the example of Algorand WEB 3.0 hackathon

Abstract

Hackathons and similar events are becoming very popular ways to supplement academic learning to practice teamwork, coding, and increasingly business skills. With a short implementation time frame of typically up to 36 hours, the hackathon routing process that generates the final code or proof of concept solution is completed after the jury trial is generally concluded at these events. Stakeholder efforts were focused on the design of the hackathon and the organizational aspects of the event. The students' efforts were mainly focused on the hackathon challenge and short tasks. That influence leaves aside the potential that the results of the hackathon could bring to further influence the innovative capacity of stakeholders, especially the academic community in the context of this paper. So, the main dilemma is how to use the potential of the hackathon as a mechanism to strengthen the innovative potential in the academic community. To explore this potential, the first initial step was to identify and measure performance indicators arising from hackathons such as exploring new pedagogical approaches and experimental learning, motivation, and satisfaction for the adoption of hackathons as a mechanism for a pedagogical approach to initiating innovations and perceived innovative capacity. These indicators were analyzed on the example of the Algorand Hackathon 2023. These indicators become a foundation for further research and identification of performance indicators that serve as a basis for modeling performance indicators for innovative capacities based on the hackathon.