Open data hackathons are events where the actors from an ecosystem collaborate to build platforms that will benefit the public, creating a win–win scenario for all of them. Sadly, many digital services produced in hackathons are discarded only by providing access to open data that cannot boost economic benefits. Therefore, it is necessary to create a model that fosters value and entrepreneurship for the open data ecosystem, aiming to develop an economically self-sustained ecosystem. The purpose

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... of this paper is to identify the challenges participants of open data hackathons can face to present a model that will support the improvement of these contests. This paper uses the quadruple/quintuple helix innovation model to drive innovation and entrepreneurship in Thessaloniki's open data ecosystem to develop applications using open data. The results indicate that, although actors are aware of open data use, a new type of open data ecosystem that creates a win–win scenario between the entities in the open data ecosystem is required. The proposed model implies a full effect that promotes cooperation and networking among the entities in the city's ecosystem towards achieving the aim of increasing citizens' quality of life.