International hackathon sparks innovative collaboration between students, sustainability experts and companies to create inclusive business growth practices

- DEI (Diversity, Equity, and Inclusion) is an important aspect of social sustainability in business. It’s not just about having dedicated DEI programs, as one might think from contemporary news. DEI is a central part of effective business management, and many firms are unaware of how they lose customer access and new market entry opportunities when DEI issues are not considered strategically. In the hackathon, smaller firms brought real business issues they face, and students, guided by outstanding mentors, had the opportunity to develop DEI best practices to solve these issues, says Aušrinė Šilenskytė, Programme Manager (Bachelor’s in IB) and DEI4SME Project leader. 

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Fostering innovations through international industry-academia collaboration in the DEI4SME Hackathon 

The two-week event at the University of Vaasa, held both on-campus and online, focused on key DEI challenges for small businesses to stay sustainable and competitive. Students tackled DEI issues in strategy creation, implementation, product development, and HR processes, considering diversity aspects like age, abilities, disability, language, ethnicity, education, gender, and socio-economic differences.  

Participating companies included Finvacon Ltd. (Finland), AddSearch (Finland), Foamit Group Oy in partnership with Superco HR (Finland), Amplon.io (Finland), Technology Centre Merinova Ltd. (Finland), DIMECC Ltd. (Finland), Hausmasters (Austria), T.I.P.S. Messtechnik GmbH (Austria), and Consulting4Future e.U. (Austria). 

For example, a leading manufacturer in premium quality components for transformers and electric motors Finvacon Ltd. (Finland) was seeking to find ways to scale their social sustainability-focused business model internationally. DEI award-winning SME AddSearch (Finland) wanted to improve collaboration of culturally and linguistically diverse team in their fully remote workplace and create better digital search solutions for older people or those who do not have stable internet access. 

Foamit Group Oy in partnership with Superco HR (Finland) explored ways to implement effective whistle blowing practices to address regulatory requirements and go beyond them ensuring continuous improvement and ability to appreciate diverse perspectives for business development. Amplon.io (Finland) sought strategies to enhance accessibility of their SaaS platform for strategic management for colour blind users, since strategy implementation status in business is often followed by using traffic-light system or data-analytics-based visuals that are not readable for everyone.

In Europe, generational conflicts at work, upskilling as employees age, and knowledge sharing across the generations reflected in challenges brought by the cluster management company specialising in supporting the energy and electrification sectors in the Vaasa region Technology Centre Merinova Ltd. (Finland) and education provide from Austria. Efficiency concerns when diverse perspectives are considered were brought by DIMECC Ltd. (Finland). Opportunities and challenges when employing people with disability were explored by social enterprise Hausmasters (Austria) and a leading provider in the field of test hardware for microchip T.I.P.S. Messtechnik GmbH (Austria). Last but not least, Consulting4Future e.U. (Austria) asked students to investigate how Artificial Intelligence (AI) can be employed to develop effective upskilling training in SMEs, especially in the area of DEI skills in business.

The company challenges were showcased in a public poster exhibition. Student teams collaborated with company representatives and experts to develop practical solutions, benefiting the firms with immediate and long-term improvements. 

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DEI4SME Hackathon to expand network, improve employability, and develop business skillset 

The Hackathon benefited both companies and students, especially those lacking work experience or from minority groups, by expanding their networks and developing essential skills for employment or business development in Europe. Students from Finland and the USA gained practical skills, knowledge of EU sustainability legal frameworks, teamwork experience, and professional networks. 

The hackathon featured 15 internationally recognized mentorsand four keynote speakers from Europe and the USA, who shared insights and best practices on sustainability. Students attended 26 open sessions, interacted with senior managers, and received personalized coaching. Vice Rector Tanja Risikko emphasized the importance of social sustainability in business, while Adam Smale, Dean of the School of Management, highlighted Finland's transformation through diversity and inclusion. 

The prizes of the hackathon were directed to further enable growth and skill development of the participants, and included LinkedIn Learning subscriptions, personalized coaching sessions, and training with global HR professionals. Finvacon's CEO Kaj Sundén offered coaching to the first-place winners, while AddSearch's CEO Helena Rebane and saas.group provided special prizes for innovative ideas. Foamit Group's Tiina Partanen awarded a souvenir set for balancing hard work with well-being. Student teams received special mentions and recognition certificates from the case companies. 

The solutions created by students were reviewed by an international evaluation committee and company representatives, providing opportunities to showcase their problem-solving abilities to employers and professionals. These solutions will be used to create teaching cases for developing socially responsible business practices in Europe and beyond. 

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Managing diversity as a valuable resource 

The success of the DEI4SME Hackathon demonstrated that diversity can be a valuable resource for business growth and success if managed wisely. Considering the diverse needs of customers, business partners, and employees goes beyond formal DEI programs. These are strategic decisions that managers need to make, similar to managing any other business resource. 

Diversity, equity, and inclusion practiced by managers can enable a firm's internationalization, improve customer service, and motivate employees to commit to strategy implementation. Smaller businesses are particularly well-positioned to benefit from DEI, as they can adopt best practices without major organizational changes. 

The hackathon and other DEI4SME project activities highlighted the importance of collaborative efforts in advancing social sustainability and DEI within smaller businesses. By adopting DEI best practices in strategic management, firms can improve their business, comply with EU sustainability regulations, and support the United Nations' Sustainable Development Goals (SDGs) 8 (Decent Work and Economic Growth) and 10 (Reduced Inequalities), contributing to global sustainability efforts. 

Main photo: photo credit Julio Serrano