Airbus BizLab subsidiaries, Navblue and Aerial signed contracts with three Indian startups here today with an aim to establish a new industry benchmark in aeronautical data services, flight operations and imagery services.

The contracts were signed with Eflight, a Bengaluru-based startup, Stelae Technologies and Airpix Devices based out of Chennai and Navi Mumbai respectively.

"For the last couple of years I have been convinced with the potential and the quality of entrepreneurs in India. I am pleased to see that all these partnerships between Airbus andIndian startups are proving me right," Airbus BizLab, Global Head, Bruno Gutierres,said on the occasion.

As part of the take-off programme, Airbus BizLab will sponsor two travels to Europe for Indian startups in a period of six months as well as fund up to 50,000 euros to them for the demonstration of proof of concept.

Navblue, Chief Strategy and Innovation Officer, Fabrice Villaum said India has aproven capacity for innovation within the IT sector, which isdemonstrated by the startups present at the Airbus'BizLab.

The company also sees the potential of the aerospace industry given the fact that India has the world's fastest-growing domestic airline market.

The company said the agreements mark the successful culmination of season 3 of Airbus BizLab's startup acceleration programme "Take Off-2018," which seeks to bolster the Indian government's 'Make in India' and 'Startup India' initiatives.

First Published:Jul 13, 2018 4:58 PM IST