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ALBANY, N.Y. -- The 7th Annual Capital District Soap Box Derby kicked off Saturday morning in Albany.

The event began at 8:30 AM Saturday morning. Nearly 50 children ranging in age from 7 to 17 took over Madison Avenue with homemade box cars. They are all hoping for their chance to win one of the three divisions and a chance to take home a trophy.

"A lot of the kids are from Parsons, we have them from the Boys and Girls school in Delaware Avenue, and Rensselaer. A lot of individuals get into it. A lot of the fathers that raced years ago, they have their kids in it because they're still into it," said Ginger Miller, Director of Capital District Soap Box Derby.

The winners of Saturday's derby not only gets a trophy, but an all-expense paid trip to Akron, Ohio where they will get the chance to race in the National Championship where they have a chance to win a $5,000 scholarship.

Just a reminder, that with Saturday's derby, there will be some parking restrictions in affect until 6:00 PM.

In addition to being closed, there are parking restrictions along both sides of Madison Avenue from South Swan Street to the Cathedral parking lot entrance. If you need to get to Madison Avenue, you can enter from Eagle Street near the parking lot for the Cathedral of Immaculate Conception Church.