As someone who's attended events run by Daily/Kwindla, I can guarantee that you’ll have fun and leave with your IP rights intact. :) (In fact, I don't even know that they're looking for talent and good ideas... the motivation for organizing these is usually to get people excited about what you're building and create a community you can share things with.)
What? No. That’s crazy. (I believe you. I’ve just … never heard of giving up IP rights because you participated in a hackathon.)
This is about community and building fun things. I can’t speak for all the sponsors, but what I want is to show people the Open Source tooling we work on at Daily, and see/hear what other people interested in real-time AI are thinking about and working on.
This happens in corporate hackathons. Especially internal ones dreamed up by mid-to-upper management types who wished they worked at a startup.
I had one employer years ago who did a 24 hour thing with a crappy prize. They invited employees to come and do their own idea or join a team, then grind with minimal sleep for a day straight. Starting on a Friday afternoon, of course, so a few hours were on the company dime while everyone else went home early.
If putting in that extra time and effort resulted in anything good, the company might even try to develop it! The employee who came up with it might even get put on that team!
I don't understand why most companies don't just run sensible, reliable, predictable processes like a Design Sprint when they're looking to break out of a local maximum.
Not to be rude, but these days it's best to ask.