Could you imagine traveling 800 miles per hour on land? That would mean a trip from LA to San Francisco would only take 30 minutes–a revolutionary change in travel. In the near future, the Hyperloop project–the brainchild of Elon Musk–could turn this dream into a reality. In exciting news this project has turned to crowdfunding to begin development.
Hyperloop in its current state is a theoretical model for high-speed travel. This idea was first suggested by Elon Musk, of PayPal and SpaceX fame, who wanted to create an alternative form of transport different from the boat, aircraft, automobile, and train. In his vision, capsules would travel in a partial vacuum, allowing them to reach previously unsustainable speeds on land. This would make cross country travel within an hour a possible reality. Though envisioned by Musk, the construction of Hyperloop was too large of a project for him to take on due to his numerous other commitments. In order to see his idea come to life, Musk recruited former SpaceX Director of Mission Operations Marco Villa to head the project. To fund Hyperloop, estimated to cost $6 billion, Villa has opened this project to crowdfunding in order to attract both media interest and secure financial backers.
Musk back in August of 2013 released the Alpha-level design for Hyperloop on the crowdfunding platform JumpStartFund. The role of JumpStartFund on this project was “to give entrepreneurs a network through which to both seek funding and support as well as crowdsource the idea and collaborate with others to refine it.” One of the main goals for the Hyperloop team is to keep the entire process as transparent and as “open-sourced” as possible. The eventual plan with this project is to establish a corporation under which Hyperloop operates, though obstacles do stand in the way.
The exciting question for the Hyperloop project is, how can this project go from being a theoretical idea to an actual form of transportation? With some of the brightest minds in science involved with Hyperloop the technology issue seems as though it has the potential to be solved within the next few years. The real issue is getting money to fund this project, which is where crowdfunding will hopefully step in. Only time can tell though if investors will support the idea and make Hyperloop a viable transportation option.
The Launcht team congratulates the efforts of the Hyperloop Project team, which is only in the beginning stages of planning. Large-scale crowdfunding campaigns such as these show that crowdfunding can not only help startups but also big businesses and large scale technology innovation. If you want to learn more about the white-label crowdfunding software of Launcht, please click here.