PyPy is an amazing project. I still remember one of the early announcements that PyPy kind of works but is 1000 times slower than CPython. It didn't take long and the numbers dropped to 100 times and 10 times slower. Today, PyPy is faster than CPython for most tasks. This is especially true for larger numerical calculations in loops, where the just-in-time compiler (JIT) can speed up things by an order of magnitude or more.
Even though PyPy isn't used a lot in real-life projects yet, it is at the brink to become a usable choice as a Python implementation for a number of tasks. There are still many things to do, and we would like to help. Therefore, we decided to sponsor a PyPy sprint by providing space and the necessary infrastructure for a few days.
The PyPy Sprint in Leipzig, Germany (June 22 - 27, 2012) is the first at this location. Leipzig is worth a trip. As the famous German poet Goethe put it in Faust I: "Leipzig is a little Paris." So if you would like to contribute to PyPy and like to see new places (or re-visit known ones), consider coming.