Welcome back! If you haven’t read any other parts in the series, I’d recommend starting with part one. When planning a business or innovation competition, it’s always a good idea to understand the many different elements available, learning to assemble them in the way that best fits your goals.
In the last blog (part 3), I wrote about a number of alternative competition types including innovation competitions, case study competitions, and hack-a-thons. These are all great formats for groups looking to stay industry specific, solving a problem or soliciting innovation through technology or other means.
This final blog of the series focuses on the different elements that are available for competitions in supplement to the competition types. Once a group has select a format or series of formats for their event, there are a number of other elements that need to be considered, all possibly boosting value for participants.
These are multi-track competitions, mentorship elements, combination events, and prizes.
Engage different groups of applicants with a multi-track competition. From younger students to established community members, everyone has an idea they want to pursue. Give them all a chance to compete against their peers, awarding prizes based on track winner and overall winner. Many groups also like to divide their competitions among disciplines, awarding ideas from the same industry or sector.