The Estonian startup organisation, Garage48, together with Superangel, an investment fund, are due to hold a product-focussed hackathon from 18-21 March and they’re choosing just 30 startups to compete in the 72-hour event.
The hackathon is meant for early-stage startups “who are fast learners and have the grit to use insights from world-class mentors to speed up and get their product to the next level in 72 hours”, Garage48 said in a statement.
“Over the years, Superangel and Garage48 have boosted over 76 startups and been a springboard for ambitious early-stage companies, such as Port6, Snackable, ZITICITY, Avokaado, Montonio, Edumus, Taut and VideoCV,” the organisation added.
According to Veljo Otsason, one of the managing partners at Superangel, early-stage startup teams get often trapped into putting out million burning fires, but the upcoming hackathon allows them to focus and do improvements within 72 hours – which can sometimes take weeks.
Proving to investors that they have what it takes
“The hackathon is also a great way for an early-stage startup to prove to investors that they have what it takes to work tirelessly, and that they have assembled a team who can really get the job done,” Garage48 asserted.
The goal of the hackathon is to pull in investors and mentors who themselves have built several companies and know the growing pains of an early-stage startup.
“You should apply if you are an up and running early-stage startup, have an MVP and have talked to potential customers, want to get your product to the next level fast and prove to a range of investors that your team can execute,” the organisation added. MVP stands for “minimum viable product”.
Garage48 is a series of international start-up events for turning ideas into working prototypes in 48 hours. Superangel is an investment fund that arranges early-stage investments from entrepreneurs to other entrepreneurs.
Cover: A Garage48 hackathon in October 2020. The image is illustrative. Photo by Garage48.