Was just posted this by a friend and am absolutely gobsmacked...
You come up with an idea and then get assigned 'resources' who build it for the next 36 hours.. then when its all done.. you split the winnings 50% / 50%..
Really puts a bad taste in my mouth.
(Sort of disclaimer, I compete in a lot of hackdays and I run http://www.leedshack.com in the UK)