writes "Earlier this week we heard that Cambridge University Spaceflight would be entering the N-Prize competition. The N-Prize is a competition to stimulate innovation directed towards obtaining cheap access to space. Most importantly, the launch budget must be within £999.99. Cambridge University Spaceflight plan to win the prize using a balloon and a rocket. They have now opened up an official forum where the public can track their progress."
The linked story has images from a test flight of July 23, and an interview with a member of the team, Ed Moore.