PechaKucha Night, now in over 900 cities, was devised in Tokyo in February 2003 as an event for young designers to meet, network, and show their work in public.
PechaKucha (Japanese: ペチャクチャ, IPA: [petɕa ku͍̥tɕa], meaning chit-chat) is a presentation style in which 20 slides are shown for 20 seconds each (6 minutes and 40 seconds in total). The format, which keeps presentations concise and fast-paced, powers multiple-speaker events called PechaKucha Nights (PKNs)
A typical PechaKucha Night (PKN) includes 8 to 14 presentations. In each presentation 20 slides are shown for 20 seconds each. Organizers in some cities have added their own variations to the format. The audience is usually from the design, architecture, photography, art, and creative fields, but also from academia. Most presenters are design professionals showing their creative work, but presenters often speak about such topics as their travels, research projects, student projects, hobbies, collections, or other interests. Video art has also been presented at some events.
More info at their website: http://www.pechakucha.org/faq