Airbus arm open to stake buy in Indian startups
In an interview with ET, Bruno Gutierres added however that there is no concrete plan of an investment yet. If and when an equity participation happens, it will be a departure from Airbus BizLab’s usual way of funding the startups which is only limited to their business initiatives proofs of concepts. BizLab funds each proof of concept with a maximum of EUR50,000.
Earlier in the day, Airbus subsidiaries Navblue and Aerial signed contracts with three Indian startups, accelerated at Airbus Bizlab India, in the fields of aeronautical data services, flight operations and imagery services.
Navblue, Airbus’ solutions provider for flight operations and air traffic management, signed up Bengaluru-based Stelae Technologies to work for better solutions in aeronautical data services. It also also extended an agreement with EFlight, a startup from the same city it brought under its wing last year.
The third agreement was signed between Aerial, Airbus’ new commercial drone startup and Navi Mumbai-based Airpix to provide geo-analytic solutions and imagery services in India.
Since 2015, BizLab has accelerated 50 startups and 40 internal projects, which have raised a combined EUR19.5 million. It has facilities in Toulouse, France and Hamburg, Germany apart from the one in Bengaluru and recently opened one in Madrid, Spain.
Last year Eflight and another Bengaluru-based startup Neewee signed contracts with Airbus and Navblue. Neewee uses analytics and artificial intelligence to improve manufacturing supply chain and procurement operations, while EFlight has developed a solution that optimizes a pilot’s response to different flight conditions.
The BizLab program is designed for aerospace and other start-ups that have products/solutions that can be adapted for the aerospace sector in segments such as robotics, internet of things, data analytics, virtual/augmented reality, supply chain, fintech, gaming and manufacturing .
BizLab supports the startups in a six-month acceleration program.
Source: THE ECONOMIC TIMES