In 2013, Elon Musk released a white paper outlining his Hyperloop concept.
The concept is one he has discussed in the past and now the dream is coming true. A Hyperloop is a new form of high speed mass transit that will surpass all current modes of transportation, including air travel.
In true Elon fashion (of trying to change the world), via his SpaceX brand has decided to turn this into a competition. They will do so by, building a 1-mile long test track and hosting a competition for university and independent engineering teams to build their own Hyperloop transport pod prototypes.
The initial deadline for this competition is September 15, and SpaceX says the target date for the competition to be held at their Los Angeles campus is June 2016. An earlier design meetup will be held in January at Texas A&M University. This is where competitors will submit their design plans to be evaluated by SpaceX. It will also be a venue for companies to network with entrants and perhaps sponsor or otherwise contribute funds to the construction of a pod prototype for the competition weekend at SpaceX headquarters.
The pod prototypes will be built to “human scale,” but SpaceX says no people will be allowed to ride on the the pods during the competition weekend.
SpaceX believes the knowledge gained through the competitive process will continue to be open-sourced just as Elon loves.
More detailed rules for the competition will be released by SpaceX in August.[SOURCE](http://www.gizmag.com/spacex-announces-hyperloop-pod-competition/38026/)