Musk is the high-profile entrepreneur whose other ventures include Tesla and PayPal, but SpaceX stressed that neither he nor the company will be involved in the actual building of Hyperloop.
In 2013, Musk proposed building a network of pneumatic tubes — perhaps linking L.A. and San Francisco — through which aerodynamic passenger pods would travel at 700 mph-plus.
“We are excited that a handful of private companies have chosen to pursue this effort,” SpaceX said in a brief posting on social media on June 15. “For this reason, SpaceX is announcing an open competition, geared towards university students and independent engineering teams, to design and build the best Hyperloop pod.”
The company said it would build a 1-mile test track adjacent to its headquarters in a competition targeted for June 2016.