3 ms·

Thanks! Founder here and yes, we're definitely expanding outside of health. I like your version as well - really flip the market on it's head.

Gilly_LDN 14y ago
What if the winning hackers win at two of your events, and are funded for two different companies but aren't interested in the problem after the weekend - except for the running around money. Is the money in the form of 'a gift which could be used to run a company for a couple of months'? Who would collect the money, just one of them in their bank account? Who monitors the teams afterwards - or is that just up to the your sponsor/the investor? Basically, I like the idea - but I'd be tempted to use it to allow me space to concentrate on my primary software idea more, rather than a 3 day event health hackathon solution. As an investor, I'd be worried that I'd be 'herding cats' getting three teams of three random people (for example) to continue a project they don't genuinely care about and eventually have just lost that money. How do you plan to address these concerns?
- MrDunham 14y ago
  Great questions, I'll answer in-line: -What if the winning hackers win at two of your events... -Being that this is invite only - I don't plan on having the same teams at two events. -Is the money in the form of 'a gift... -Nope, it's an actual seed investment from an angel group. Terms, equity, etc. will apply (but don't have to be accepted if you'd rather bootstrap) -Who would collect the money, just one of them in their bank account? -Good question, and one I need to think more on. The assumption, since it's an investment, is that they'd create a Delaware C corp and it would be property of the newly founded company. We're not directly involved in this process but will be trying to help keep things moving smoothly. -RE Herding cats: -Most investments will come after a 3 month 'build-a-thon' for teams that impressed their investor/company partner. Band of Angel investments (aka prizes) might happen at the end of the weekend.

Gilly_LDN 14y ago

What if the winning hackers win at two of your events, and are funded for two different companies but aren't interested in the problem after the weekend - except for the running around money. Is the money in the form of 'a gift which could be used to run a company for a couple of months'? Who would collect the money, just one of them in their bank account? Who monitors the teams afterwards - or is that just up to the your sponsor/the investor? Basically, I like the idea - but I'd be tempted to use it to allow me space to concentrate on my primary software idea more, rather than a 3 day event health hackathon solution. As an investor, I'd be worried that I'd be 'herding cats' getting three teams of three random people (for example) to continue a project they don't genuinely care about and eventually have just lost that money. How do you plan to address these concerns?

MrDunham 14y ago
Great questions, I'll answer in-line: -What if the winning hackers win at two of your events... -Being that this is invite only - I don't plan on having the same teams at two events. -Is the money in the form of 'a gift... -Nope, it's an actual seed investment from an angel group. Terms, equity, etc. will apply (but don't have to be accepted if you'd rather bootstrap) -Who would collect the money, just one of them in their bank account? -Good question, and one I need to think more on. The assumption, since it's an investment, is that they'd create a Delaware C corp and it would be property of the newly founded company. We're not directly involved in this process but will be trying to help keep things moving smoothly. -RE Herding cats: -Most investments will come after a 3 month 'build-a-thon' for teams that impressed their investor/company partner. Band of Angel investments (aka prizes) might happen at the end of the weekend.