The world SpaceX's Elon Musk envisions for humankind is not much different from the futuristic approach imagined in the 1960s during the Space Race, even looking very much like "The Jetsons," and besides the many ventures in space travel, the company wants to help transportation go one step towards the future.
Earlier this month, SpaceX's Elon Musk launched the "Hyperloop Pod Competition," calling for scientists and entrepreneurs all over the world to help the growing space company create the perfect design for the prototype of the high-speed transportation system that aims to incorporate reduced-pressure tubes where pressurized capsules ride on air cushions through air compressors and linear induction motors.
According to Business Insider, there are already 700 applicants that want to work with SpaceX and Elon Musk in the project, which has been hailed as a faster mode of transportation than trains, with the average speed two times as that of a regular jet.
The current SpaceX Elon Musk competition aims to perfect the pods of the Hyperloop, which is to say where passengers would be seated; SpaceX aims the competition at STEM university students who want to be part of the creation of this technology.
"Neither SpaceX nor Elon Musk is affiliated with any Hyperloop companies. While we are not developing a commercial Hyperloop ourselves, we are interested in helping to accelerate development of a functional Hyperloop prototype," said the company in a statement when the competition was announced, according to CBS. "To support this competition, SpaceX will construct a one-mile test track adjacent to our Hawthorne, California headquarters."
The main companies currently pursuing the hyperloop as a business venture are currently Hyperloop Technologies and Hyperloop Transportation Technologies.
According to Street Wise Journal, the official SpaceX Elon Musk competition will be held in June 2016, and signing up for the competition is fairly easy, though more specific rules, design guidelines and prizes won't be announced until August.