Hyperloop technology (PDF), an idea that has been around for a while, but has been recently popularized by Musk, involves passenger transportation in a pod-like vehicle through a near-vacuum tube faster than airline speed. While still theoretical, other companies have spun off the idea, working to make breakthroughs in the field.
The purpose of the competition, according to SpaceX, is “to help accelerate the development of a functional Hyperloop prototype and encourage student innovation by challenging university students to design and build the best Hyperloop pod.”
The test track was less than a mile long and simulated how pods would move through an underground hyperloop tunnel. An actual tunnel is being built by Musk, who sent out this tweet:
Exciting progress on the tunnel front. Plan to start digging in a month or so. — Elon Musk (@elonmusk) January 25, 2017
The teams put their pods through several tests over the last week in hopes of making it into the Hyperloop test track itself. The second part of the competition will occur in summer 2017.