In August, Elon Musk, the billionaire entrepreneur of Tesla, PayPal, and Space X fame, unveiled his idea for a transit system based on a high-spec capsule design. Musk said the Hyperloop could send passengers from San Francisco to Los Angeles in about 30 minutes -- but had no intention of pursuing the idea.
However, an engineering team has other plans, and wants to make the 800mph system a reality.
Led by civil engineer Patricia Galloway and former SpaceX executive Marco Villa, the team has announced its intentions to raise funds through the JumpStartFund platform, and will award ownership stakes in return for useful ideas to improve and refine the Hyperloop design.
In addition, the platform is accepting applications from those happy to work on the Hyperloop project full time in return for equity.
By making the project open source, a number of contributors in the engineering community can contribute. At 3-D design software company Autodesk, staff are refining Musk's designs for fun, and others are working out how to reduce costs -- such as trading steel tubes for lighter, stronger carbon fiber -- something that scientists are trying to refine to make the material cheaper.
"I believe this project will revolutionize how transportation will be viewed for future travel to and from major cities similar to the way the Concorde almost changed air travel," said Galloway. "What is different today is the opportunities that crowdsourcing and crowdfunding offers in getting dreams and innovations off the ground to allow the 'Concordes' of the future to become reality today."
Via: Fast Co.Exist