Ever since Elon Musk revealed his Hyperloop designs in August, the inventor has been coy about any plans to construct the device, leaving many to wonder when the innovative transportation system would see the light of day. But today brings good news for Hyperloop fans, as a new group has formed to develop Musk's designs, with the help of expert engineers and an innovative crowdfunding platform.

The group comes out of JumpStartFund, a crowdfunding platform that lets users form proto-corporations around ideas they find interesting. Musk's Hyperloop designs were posted on the site in August, and after generating enough interest, the team received permission from Musk to develop the Hyperloop further. After today, the group will be led by Marco Villa, former director of mission operations for SpaceX, and Dr. Patricia Galloway, a former president of the American Society of Civil Engineers. Musk had previously said that the SpaceX team was intimately involved with developing the concept, and Villa is confident that the plans are feasible. In a prepared statement, Villa said, "There do not seem to be any technical issues on this project that we can’t solve."

The team will begin raising funds for their designs soon, but at the moment they're still looking for more volunteers to sign onto the project in exchange for equity in the soon-to-be-formed corporation. As Villa told potential participants, "we look forward to receiving input and support from all the brilliant minds out there in the JumpStartFund community, to make this a true open-source development."