It’s madness. It’s loud. And it’s definitely a good place for people who can’t stop.

This weekend at GridAKL, a new precinct for tech and innovation, the latest round of the conference known as Startup Weekend is being hosted. Developers, designers, marketers, product managers, and startup enthusiasts all culminate to pitch and produce ideas to a panel of local entrepreneurial leaders.

Over a three-day period starting Nov 14, 90 participants spread over 12 teams will work on top ideas – distilled from a poll of between 30 and 40 ideas – for further development.

Working at break-neck speed, participants experience all the triumphs and tribulations of developing a business idea, with the promise of not only a prize at the end of the tunnel, but also the possibility of launching an actual startup.

According to Startup Weekend’s website, over 36% of startups are still going strong after three months, with roughly 80% of participants planning to continue working with the teams they formed beyond the end of the event.

And the prize package is certainly a heck of a lot of goodies – a $2000 startup law pack from Lowndes Jordan; a $10,000 TradeMe advertising package; 12-months Big Pipe broadband access from Spark; one month’s hotdesking at GridAKL; and a month’s worth of meeting access at BizDojo. The latter is a collaborative shared office and innovation space that offers coaching and startup acceleration programmes.