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IT probably stands for Individual Transport.
It will be an alternative to the car. Thus the reference to the 'billion dollar old line companies' and 'social institutions' - in America, and in many places around the world, the car is a powerful social symbol.
The model named 'Metro' fits with a metropolitan-based transportation device.
Kamen has most recently worked on the 'active' wheelchair, which 'transports' an 'individual'. It would be natural that his mind is still focused on 'individual transport'.
Screwdrivers and hexwrenches indicate a mostly mechanical device, although I wouldn't preclude some pretty smart electronics. His active wheelchair can beat a human in a shoving match and stay balanced, no mean feat.
Anyway, I would bet on IT being some adaptation of the active wheelchair technology. Some sort of powered scooter you strap to your legs? Motorized shoes? Power roller- blades?
his patents
http://www.delphion.com/details?pn=WO00075001A1
http://www.delphion.com/details?pn=WO00074623A2
http://www.delphion.com/details?pn=WO00061426A1
http://www.delphion.com/details?pn=WO00054721A2 http://www.delphion.com/details?pn=WO00054719A1
http://www.delphion.com/details?pn=WO00023315A2
anyways it has something to do with transportation
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