InSeT Systems, LLC, located in Akron (Summit County), has been awarded a $792,750 Innovation Ohio Loan Fund loan. The loan is to be used for specific software development costs and the purchase of machinery and equipment at its facility in the Akron Global Business Accelerator. This $1 million project is expected to create 43 jobs and retain 3 positions.

The company was founded in 2006 to develop an inertial sensor tracking system for use in the underground mining industry. In April of this year, they received funding from JumpStart and moved the company to Ohio. In June, they were selected by Popular Science magazine as one of the Top Ten Inventions of 2008. In July, a patent was issued to the company covering the use of inertial devices for tracking underground miners.

The loan from the state of Ohio will enable the company to complete the development of the system, install a demonstration system, gain approval of the Federal Mine Safety and Health Administration (MSHA), and start commercial installations early next year.

For more information, contact Jay Breeding, COO at jay.breeding@insetsystems.com or go to www.insetsystems.com/.

"Our goal is to greatly improve the chances that underground miners can go home to their families every day when their work is done."