The Hackaday Prize is an annual competition that encourages engineers, makers, and inventors to create innovative projects that solve real-world problems. Participants submit their designs and prototypes, showcasing their creativity and technical skills. The prize aims to promote open-source hardware and software, fostering collaboration within the maker community. Winners of the Hackaday Prize receive cash awards and recognition for their contributions to technology and engineering. The competition emphasizes practical applications, encouraging participants to develop projects that can be shared and improved upon by others. This initiative helps inspire the next generation of inventors and problem solvers.