Seed Money Helps Grow Delaware Tech Company

Delaware’s Economic Development Office recently awarded invested in a company that provides GPS-like accuracy indoors. Sky-Trax received a seed loan of $50,000 to fund production of its Sky-I sensors, in addition to a strategic fund loan of the same amount to launch the vehicle tracking software. The company will create 39 new jobs by the end of 2009 and generate approximately $5 million for Delaware’s economy.