Speed dating is an event where men and women get together to go on a timed date which is set by the organizer. Times usually range between 2-10 mins.
The organizer will call "Let's start" and the mini date begins. You will talk with the person for the predetermined amount of time until the organizer will call time is up and once you have finished your speed date with the person. At the end of the date, you mark down on a piece of paper whether you want the other person to contact you and the other person does the same. You move onto the next person and repeat until the event is over.
At the end of the event, the organizer will take the pieces of paper and then over the next few days will compile of list of matches and email the speed daters their list of matches.
It is up to the speed daters at this point in time to contact their match and whether they would want to meet up again.
Hope this helps.