The budget normally used to pay for the location rent, pizza and sodas can be used to attract international experts and top data scientists in the world.
The participants get more time to prepare their solutions and we can also prolong the competition in such a way that the solutions discovered can immediately be integrated into our client's business.
You can select only the strongest from the pool of participants, by excluding those without sufficient experience to be taking part in international competitions. This way the quality of the overall pool can be improved.
Various cutting-edge technologies can be used - virtual chats, games, work-tracking apps, code-verification and other international startup platforms.
I could go on, but I think that the quality of the teams, internationality and use of cutting edge technology at the event are the main advantages.
What are the advantages of offline then?
I can give a personal example - I'm better at meeting people offline. I immediately get a read on the person and there's something to be said for chemistry as well. There can be chemistry online, but it feels different. I can't really describe it. But I love people. I love to meet new people in person. I love face to face conversation.