Avishkar Hyperloop, a team of engineering students from IIT Madras, have been shortlisted for the final round of SpaceX Hyperloop Pod competition 2019 to be held in Los Angeles, California in July 2019. P2P lending firm RupeeCircle will sponsor the group’s mission. The IIT students beat 20 other finalists in the competition.
Avishkar Hyperloop is comprised of a group of enterprising engineers, designers and business think tanks who work together at the Centre For Innovation (CFI) – a student innovation lab at IIT Madras – with the goal of designing and developing a new mode of transport, the Hyperloop.
The concept of Hyperloop was floated by Elon Musk, founder of Tesla and SpaceX, and has the potential to revolutionise the transportation industry.
The competition itself is sponsored by SpaceX to create awareness and bring the best minds in the world together to work on the concept.
Avishkar Hyperloop team from IIT Madras has cleared the Preliminary Design Briefing among hundreds of participants across the globe and are preparing for the final round to be held in Los Angeles, California.
RupeeCircle Founder and CEO, Ajit Kumar said, “We aim to be at the forefront of technology that would impact the global business landscape and would continue promoting initiatives that can benefit the masses. At this outset, it is a privilege to be a part of this talented and innovative group of people and support them in innovative solutions. As a start-up we are aware of the hurdles that innovators face on their quest to success, and that’s the reason why RupeeCircle decided to team up with Avishkar and support them in the monetary aspect of their mission”.