Step 5 - Finding Sponsors

5.1 Do You Really Need Sponsorship?

Before seeking sponsorship, ask yourself if it's truly needed. Often, hackathon events can be largely self-funded or facilitated at relatively low costs, particularly if they grow from a community with a shared mindset or a common goal. In these cases, the event's objective is usually clear and well-communicated, and it will attract like-minded individuals, whether the venue is fancy or not.

However, the costs of a hackathon event can increase quickly if you're aiming for a more upscale venue, want to invite additional speakers or presenters, or plan to develop media collateral such as an aftermovie, pictures, and so on. Similarly, offering cool prizes could drive your costs up significantly.

Remember that funding is not the golden answer. Always reflect on your long-term objectives and consider whether every cost you plan to incur truly supports these goals.

Sponsorship can be a worthwhile pursuit if:

• The event is recurring with the goal to grow and attract more participants over time.

• The organization wants to use this as an opportunity to grow internal capacity in knowledge and infrastructure.

• You have other reasons that warrant the additional funding.

5.2 How to Secure Funding

If you determine that securing additional funding is indeed necessary, here are some avenues to explore:

5.2.1 Setting Up Strategic Local Partnerships

One way to secure funding is by forming strategic partnerships with local stakeholders such as city authorities, government entities, or businesses. These partners can provide financial or in-kind sponsorship to support your event.

The key here is ensuring that your event aligns with the interests and objectives of these potential partners. It should ideally offer a win-win scenario where both parties stand to benefit. For example, a hackathon that addresses a local environmental issue could partner with local government bodies or environmental organizations that share this goal. Regular communication and alignment of shared objectives are crucial in maintaining these partnerships.

5.2.2 Applying for Grant Programs

Another method to secure funding is by applying for grant programs. Many regional, national, and even international entities offer grants that support collaboration, exchange, and innovation in education.

Identify the scope of your event - whether it's regional, national, or international - and search for suitable funding opportunities accordingly. Leverage any existing partnerships to gain expertise and explore current possibilities.

For instance, you might consider applying for the Erasmus+ programme at the European level. This initiative promotes collaboration and the exchange of best practices in all educational areas. A hackathon can be an effective tool to address these priorities and meet your organizational needs.

In summary, while sponsorship can greatly help organise a high-quality hackathon, it's important to keep the main objectives of your event in mind. Remember, a hackathon that stems from a shared community mindset and an authentic vibe can often be just as successful, if not more so, than a heavily-funded event. Always strive to balance your financial means and the value that each aspect of the event brings to your participants and the wider community.