We're going to get our first look at real Hyperloop designs in January

Elon Musk’s SpaceX released more details about its Hyperloop pod competition on Thursday.

The company laid out parameters for designing the capsule and gave a basic breakdown of how the entrants will be judged.

Basically, teams entering the competition will have a lot of freedom to create a unique pod design, but they do have some restrictions.

For example, the pod cannot weigh more than 11,000 pounds and should be less than 14 feet in length, less than 4.5 feet in the maximum width and smaller than 3.75 feet in height.

SpaceX is planning to build a test track adjacent to its headquarters in Hawthorne, Calif. so that selected entrants can test their pod. However, final measurements of its test tube will be revealed in September.

The first stage of the competition will be a Design Weekend hosted January 15 and 16 at Texas A&M University where entrants will show off their initial designs. Selected entrants will have the opportunity to win sponsorships from companies to build their pod in real life to compete in the final competition in June 2016.

SpaceX engineers, Tesla Motors engineers, and university professors will be the judges during the competition weekend. Prize details for the winners of the competition have not yet been released in detail, but the updated guidelines states that there will be some cash prizes.

The company announced earlier this month that it had already received more than 1,200 applicants for the competition.

Check out SpaceX’s website for more information about the event.

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