The BeagleBoard is an entry-level and cost-effective open-source hardware platform manufactured by Texas Instruments featuring an OMAP processor. It has seen success due to its large Linux community. The BeagleBoard has undergone several revisions since 2008 to improve performance and functionality, doubling RAM and increasing processor speeds. To set up the BeagleBoard, users connect a monitor via HDMI, power it using a USB hub connected to the computer, and access it via serial terminal to view the boot up process and configure settings.