European plane-manufacturer Airbus, along with its subsidiary Navblue, has signed contracts with two Indian start-ups -- Neewee and Eflight -- to provide solutions in aerospace, a company statement said on Thursday.
"Neewee and Eflight, two start-ups accelerated at Airbus Bizlab India, have signed their first contracts with Airbus and subsidiary Navblue to bring to life their unique innovative ideas in aerospace that are in line with the Indian government's 'Make in India' and 'Startup India' initiatives," Airbus said in a statement.
According to the company, the two Bengaluru-based start-ups were part of five start-ups chosen a year back from the second season of the Airbus Bizlab technology acceleration programme that attracted 137 applications from nine countries.
"Neewee's solution, called procuSense, will enhance certainty to manufacturing supply chain and procurement operations at Airbus, using advanced analytics, machine learning and artificial intelligence," the Airbus statement said.
The start-up has also signed an exclusive partnership with an Airbus subsidiary to jointly address some opportunities in India, the statement added.
"Both Neewee and Eflight are unique solutions that have the potential to provide significant and long-term benefits to not only Airbus but other big and small businesses on a global scale. The roadmap for the future includes implementing Neewee's analytics solution in other Airbus functions globally," said Siddharth Balachandran, Airbus BizLab Leader - India.
Bizlab is a part of Airbus' innovative strategy to bring together start-ups and Airbus "intrapreneurs" to work and speed up the transformation of their innovative ideas into valuable businesses.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)