A New Crowdfunding Site Wants You To Help Build The Hyperloop

Hyperloop passenger capsule version with doors open at the station Tesla Motors/ScreenshotArtist conception of the Hyperloop

Earlier this month, Elon Musk revealed his plans for the Hyperloop, a fantastical new transportation system that’s faster and cheaper than a high-speed train.

But Musk also said that between running his two companies, SpaceX and Telsa, he wouldn’t be working on Hyperloop himself.

Enter a Kickstarter-like startup called JumpStartFund. With Musk’s permission, it’s founders say, it has set itself up as Hyperloop headquarters, reports CNET’s Nick Statt.

It wants to be the central place to crowdsource the design of Hyperloop and then, with luck, crowdsource the funding, too.

Musk’s estimates the first Hyperloop will cost $US7.5 billion to build.

That’s more doable than it sounds. JumpStartFund just needs every man, woman and child in the United States, all 314 million of us, to kick in $US25.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.