Yes there is a UEFI/BIOS option that needs to be enabled for the Intel Rapid Start feature to function, the default setting is disabled for this feature.
But OMGawd man, why do you need this if you have two OCZ V4's in RAID 0 (as I do)? All it does is given you a zero power (hopefully) wake from Hybrid Sleep. I'm sure this is nice for laptops with HDDs, but my ASR Z77 EX 4 wakes from Sleep in less than five seconds, and is the fastest booting PC I've ever used, and the POST is also the quickest I've seen. Part of that is the RAID 0 V4 volume, but the board and UEFI have a lot to do with that.
But what the heck, have fun with it, tell us what you think about it.