A Van Nuys company developing a vertical take-off and landing jetpack has signed an agreement with Georgia Tech to design and build the device for military use.

JetPack Aviation Corp. will provide its proprietary technology for the Soldier Vertical Mobility System while the Georgia school will add advanced electronic subsystems for the new device, including an autonomous control system, a pilot exoskeleton and a display helmet for the pilot.

The company is working with the U.S. Navy under a Cooperative Research and Development Agreement on the jetpack technology. Under such an agreement, the government works with a company to speed up commercialization of a promising product but the government is under no obligation to buy it.

JetPack Aviation was founded by entrepreneurs David Mayman and Nelson Tyler; Tyler is a principal in a San Fernando Valley company making stabilized camera systems for helicopters. JetPack is currently raising $1 million through crowdfunding to continue development of its jetpack technology.

The company has demonstrated its jetpack in New York and London and plans to offer it to the military, first responders and for commercial use by commuters and recreation enthusiasts.