A canadian company called
CanadianArrow has entered the
XPrize competition with what they call Space Diving.
Simply put, it's
sky diving from 40-70 miles above the
earth.
CanadianArrow will use a
two stage rocket, based on the design of the
V2 Rocket to take the space diver up to the required altitude, at which point they will orient the craft, exit, and begin their controlled fall to earth. This works using what is called a
Ballute, a cross between a balloon and a parachute that was designed by
NASA during the
Gemini missions as an emergency escape from
orbit.