The soonami Venturethon is a remote, week-long hackathon focused on tech, AI and Web3 solutions. It’s happening from 27 November to 3 December and has a prize pool of upto $24k and funding opportunity of $125k.
When we think of hackathons, we think mainly of developers. But the soonami venturethon is not just for devs.
It’s also for:
- Entrepreneurs/ Founders
- Product Managers
- Strategy Consultants
- Sales professionals
- Finance professionals
- MBA students
- Engineering students
- Design students
soonami is a venture builder and our primary aim is to look for great teams with super ideas that can actually add value to the consumer’s life. We’re looking for new or existing teams that we can include in the upcoming soonami accelerator. And real businesses don’t run just because the software product is good. Of course that is key. But all other functions listed below are equally important:
- Market research and scoping
- Financial projections and planning
- Marketing and branding
- User growth and acquisition
- Customer experience
- Fundraising and Investor-relations
We insist on teams that are balanced on the development/tech and business side. Not all developers are great communicators or marketers, and so we need well-rounded teams that are talented across all functions and can inspire the trust of investors.
Here are some broad ideas on how you might contribute to the hackathon in your area of expertise:
If you’ve already founded a startup and are working on an MVP, taking part in this hackathon is ideal for you. You just have to continue the work you’re already doing and there is very little extra effort required to be part of the hackathon. The benefits far outweigh the work required. All we need from you is tell us how much of the project was done prior to the hackathon (Nov 27) and how many new features you’ve built during the hackathon (till Nov 3). If we like your idea and team and think that it can be scaled,we will invest in you.
For you, apart from signing up for the hackathon and listing your project on Foundance, there is not much that you have to do just for the sake of participation. You will have to pitch your product to investors at the end of the hackathon and if you win, apart from the prize money, you can be part of the soonami accelerator ($125k funding potential). You will also have access to top industry experts as mentors and get access to a great community who can provide quality feedback for your product and be a source of great support.
Think of it as an intense sprint and a pitch to investors. There are no downsides. In fact, taking part should be a no brainer. It requires almost no extra time, since you are already spending your work day building your product. Now, there’s just an investment pitch at the end of the work week. Have more questions? Not convinced yet? Join our discord.
You know that good products don’t sell themselves. A lot of developers may only want to focus on the tech side and leave the branding, marketing and sales to someone else. As a marketer you can bring a lot to the table. You can do a competitor analysis, find untapped consumer needs your product fulfills, make compelling pitchdecks, craft an interesting story and ensure that the pitch to investors at the end of the hackathon goes flawlessly.
During the hackathon, you can choose to develop the strategy for the product - markets, USP, advertising budgets required and estimated sales. If you’re currently working in one area of marketing - say social media marketing and now want to move to product marketing, or strategy or a larger role - this is a good way to practice your skills and add some real experience to your CV. If you win, you might even have your dream job!
Product design, UI-UX design, beautiful pitchdecks, design thinking and the nitty gritties of how the product or service will actually be delivered - you can add in so many ways to your team. If you already have a tech, web3 or AI idea and are looking for developers to work with you, this is a great place to meet tech talent. A lot of developers register for the hackathon and are looking for teammates who have business ideas. If that’s you - register straight away. Even if you don’t have an idea, who can always team up with someone else who does. You will need one developer on your team.
You align the business needs of the product with the tech. And if you can come up with a strong business case, use requirements and work with the devs to come up with with an amazon MVP/features - the hackathon is with you. Whether you already have an idea or are looking to team up with someone who has one - you’ll find a lot of talented people to choose from. If you’re someone who has the necessary skills but doesn’t have an official product manager job title at work, doing projects like this could really help you - to both learn and showcase as a project on your resume.
You know better than anyone else, that there has to be clear plan for understanding the market, the paying capacity of consumers, the go-to-market strategy and growth. In a hackathon you put together a clear business plan and be responsible for pitching the idea to the investors. Whether you have tonnes of experience in a specific industry, already have an idea and are looking for devs or are looking to working with someone who has a business idea, the hackathon experience can be very rewarding for you.
Whether the startup is funded or bootstapped, growth is key. As someone experienced in sales, you can be a great asset to your team by making a growth plan for the product. Is there a potential market, who will the buyers be and how how much revenue can be expected - these are the answers you can work on and present to the investment panel.
Growth projections, estimated revenue and profits, cash-flow projections and required user growth with development timelines - these are all critical questions for any startup that you can answer with your team.
Students - MBA, Engineering, Design
If you’re an MBA student, you know the job market is tough and competition is stiff. Working on projects like this can bring in-depth understanding of product development, marketing and valuation. Not only can you hone your strategy, marketing or finance skills (whatever your specialization maybe), you can also expand your network by working closely with a diverse international team, interacting with industry experts and meeting investors.
For engineering students who have an entrepreneurial mindset and are already building products while studying, this is an ideal opportunity to get funded and get critical feedback from investors and experts.
As a design students you apply product design/UI-UX design skills to enhance the usability and engagement of your product. It’ll not just be a great learning experience, it’ll add valuable project experience that you can list on your resume.
Ready to take on the challenge? Register now.
Join the soonami discord channel.