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In page Parasailing:

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The first ascending-gliding parachute was developed by Pierre-Marcel Lemoigne in 1962.[1][2][3] The same year, Lemoigne established an Aeronautical Training Center to introduce his new ascending-gliding parachute as a training tool for parachutists. The technique allows parachutists to train more efficiently by towing the parachutist to a suitable altitude, then releasing them to practice landings. This training method proved cheaper than—and just as effective as—an airplane. In 1963, Jacques-André Istel from Pioneer Parachute Company bought a license from Lemoigne to manufacture and sell the 24-gore ascending-gliding parachute which was trade-named "parasail."[citation needed]