Proud moment! IIT Madras team set to present Hyperloop concept to Elon Musk

P2P lending firm RupeeCircle has announced that it will sponsor IIT Madras team - Avishkar Hyperloop. The team which comprises of IIT Madras students includes engineers and designers who have been shortlisted for the final round of SpaceX Hyperloop Pod competition 2019 to be held in Los Angeles, California in July 2019. A group of enterprising engineers, designers and business think tanks, the team who works 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. 

With this association RupeeCircle will sponsor the student group’s mission to beat 20 other finalists in the competition. RupeeCircle Founder and CEO, Ajit Kumar said that the platform is aware of the challenges faced by innovators and wanted to help with the monetary aspect of their mission.

"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 nd 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," he said. 

Speaking on the competition and collaboration with RupeeCircle, Pranit Mehta, an IIT Madras graduate, Head - Avishkar Hyperloop Business Team, said, "We are thrilled to be the finalists at SpaceX Hyperloop Pod competition and look forward to compete with the best minds in the world at the event. We are also thankful to RupeeCircle who came forward and decided to sponsor us."

The concept of Hyperloop was floated by Elon Musk, founder of Tesla and SpaceX. The competition 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.