Here's what other companies building their own Hyperloops think about Elon Musk's big contest

Elon Musk's big Hyperloop pod competition news on Monday was like music to the ears for companies trying to actually build the futuristic railway in real life.

Musk is hosting a contest sponsored by his rocket company SpaceX to see who can design the perfect pod for human travel in the Hyperloop tubes.

The challenge is aimed at students and independent engineering teams and will be hosted at the SpaceX headquarters in Hawthorne, Calif. next June. 

Companies will also be able to attend the contest to see what teams they might be interested in sponsoring. 

While Musk says that he has no intention of building a real Hyperloop, there are some other young companies that are in the early stages of making this tubular travel a reality.

Two California-based companies - Hyperloop Transportation Technologies and Hyperloop Technologies - are some of the most notable companies working on the technology and both seem pretty excited about Musk's pod contest.

"We are happy that Elon and SpaceX share our vision of using the power of the crowd and communities to help bring the Hyperloop to reality," Dirk Ahlborn, the CEO of Hyperloop Transportation Technologies, told Business Insider.

"We believe this recent announcement will excite even more people about the project and amazing solutions will result for commercial integration. We will help support the competition in any way we can," Ahlborn said.

We also reached out to Hyperloop Technologies, which is a separate company that is backed by the managing director of Sherpa Ventures, to get their reaction. We haven't heard back from them yet, but they seem to be just as enthusiastic.

The company tweeted on Monday that the challenge will be a "Great step forward for the advancement of the Hyperloop."