Money will be necessary, of course, and right now is a sore point. Galloway and Villa are volunteering their time, and the Hyperloop Transportation Technologies company is being announced on JumpStartFund, a crowdfunding site that also helps drum up crowd ideas.
"We call it crowdstorming rather than brainstorming," Dirk Ahlborn, CEO and co-founder of JumpStartFund, told FoxNews.com. "A lot of entrepreneurs have great business ideas but don't have time to work on them."
That's where his company stepped in. Through the platform, a wealth of interested individuals and businesses have expressed interest, he said.
"Several engineering companies have contacted us and said, we have done our preliminary reviews and This seems completely doable and we don't see any issues," Ahlborn said.
They also hinted that larger investors were interested in the project.
According to a new timeline of planned milestones, the company will have an updated whitepaper for release by March that spells out how to build a prototype. That might come as early as the end of 2014, "I've been fascinated by first-of-a-kind projects," Galloway said.