Hey hackathon organizers – Maria from Major League Hacking (MLH) here! 👋 With the economic downturn and tech hiring slowdown, we know it’s been particularly difficult to raise money for your hackathon this year.
The good news is that there are ways to significantly reduce your budget, while accommodating the same number of hackers. Meeting or exceeding your attendee goals are critical. It will help your team create sponsorship opportunities, build community on campus, and most importantly – make this life-changing experience more accessible to your fellow students.
Let’s jump into it!
- Order food to match attendee trends.
Food is one of the most expensive budget items for most hackathons. To reduce your food budget and waste, we strongly recommend ordering less food as your hackathon progresses and for meals hackers are likely to skip like breakfast. Below is an example to get you started!
MariaHacks collects 200 registrations for their 2-day event. Under MLH’s guidance, they know to expect a 50% attrition rate and budget for 100 attendees. Let’s assume that every meal is $12 per attendee.
- Lunch on Saturday – 100% Attendance – 100 Meals for 100 Attendees – $1,200
- Dinner on Saturday – 80% Attendance – 80 Meals for 80 Attendees – $960
- Midnight Snack on Saturday – 70% Attendance – 70 Snacks for 70 Attendees – $840
- Breakfast on Sunday – 30% Attendance – 30 Meals for 30 Attendees – $360
- Lunch on Sunday – 60% Attendance – 60 Meals for 60 Attendees – $720
In the end, MariaHacks spends $4,080 on meals rather than $6,000. In total, the team saves $1,920 while reducing food waste.
If you’re planning a 3-day event consider switching it to a 2-day event instead. Cutting out Friday will reduce your costs significantly and will still give hackers plenty of time to work on their projects. This can lower venue costs like security, janitorial, or the daily use fee some venues have, in addition to lowering food costs by reducing the need to have additional meals. This doesn’t mean you should cut meals your hackers need, but a shorter hackathon does mean less total meals.
- Order less swag and wait to give it out.
Even the best hackathons experience attendance drop-off by the end of their event. On average, we recommend organizers plan for a 40% reduction in attendees from the start of their event. By giving out swag at the end of your event rather than the beginning, you not only incentivize attendees to stay but you also can reduce your swag spend.
Furthermore, if you want to take an extra step you can require attendees to submit a project in order to receive swag. If you want to hand out swag earlier to get hackers excited, start by giving out the less expensive swag like stickers. Below is an example to get you started!
MariaHacks collects 200 registrations for their 2-day event. Under MLH’s guidance, they know to expect a 50% attrition rate and budget for 100 attendees. Let’s assume that a t-shirt is $10 per attendee, and tote bags are $3 each.
- Tote Bag at Midnight – 70% Attendance – 70 Tote Bags for 70 attendees – $210
- T-Shirts on Saturday – 60% Attendance – 60 T-Shirts for 60 Attendees – $600
In the end, MariaHacks spends $810 on swag rather than $1,300. In total, the team saves $490.
- Don’t break the bank on expensive prizes.
There is a misconception that expensive hackathon prizes will attract more registrants. While cool prizes are exciting, most hackers come to your event to learn, and there are better and more cost efficient ways to market your event.
If you’re looking for suggestions for budget-conscious prizes, check out some ideas on the MLH Organizer Guide. We recommend ordering prizes between $25-75 for your challenges.
- Leverage MLH Member Event discounts.
One of the awesome benefits of being an MLH Member event is getting access to vendor discounts. For example, organizers can get access to 10% off and a $125 credit with free shipping with StandOut Stickers. Our friends at Brand Makers also work with hackathon organizers to produce t-shirts, tote bags, and any other swag you like. Contact your Hackathon Community Manager for the full list of discounts available, and information on how to take advantage of the offers available.
TLDR;
- Order food to match attendance trends.
- Order less swag and wait to give it out.
- Don’t break the bank on expensive prizes.
- Leverage MLH Member Event discounts.
Want more personalized help? Meet with your Hackathon Community Manager to review your budget, and get help identifying opportunities to reduce event costs.
