ST. LOUIS (KSDK) - A new organization called Globalhack hopes to lure tech talent to St. Louis through a series of contests, including one with a $1 million prize.
The nonprofit will host quarterly hackathon competitions where developers, designers and entrepreneurs will have 48 hours to solve a technology-based problem for a St. Louis company.
Teams will come up with a prototype, and the winner will receive $50,000. Some will go on to compete for $1 million.
"The same as they will pitch for investment capitol. They will pitch for $1 million. The only difference is our million dollars is no dilutive, which means it's free money. So as long as they open up a company in St. Louis they will get $1 million," said Gabe Lozano, co-founder of Globalhack.
Lozano is also the founder of Lockerdome. He says he co-founded Globalhack to help boost technology growth in St. Louis.