The goal of its Hack:bit programme is to bring the creative ideas of young Sri Lankans to life. The competition is open to university students under the age of 28 and school students under the age of 19. The initiative is focused towards nurturing innovations that would bring us closer to achieving the Sustainable Development Goals (SDGs). These include Good Health and Well Being, Life on Lands, Sustainable Cities and Communities, Climate Actions, Quality Education and Decent Work as well as Economic Growth.

The first edition of the competition Hack:bit 2018 was the first 24-hour national level Micro:bit-based hackathon. Hack:bit 2018 was organized by micro:bit SLUG, a child organization of the STEMUP Educational Foundation. For the pre-hack, more than 80 submissions were received. At the final round held at the Trace Expert City, the best 3 innovations in the school category together with the best 3 innovations in the university category were selected and presented with awards following detailed evaluations by an experienced panel of judges. Second edition, 2020 competition was conducted fully online due to Covid 19 restrictions.