An advanced prototype of the flying roadster AeroMobil 3.0 was unveiled Wednesday in Vienna, during the Pioneers Festival.

The Pioneers Festival, which celebrates "entrepreneurship, technology and innovation," brings more than 2,500 people from all over the world across all industries. The festival is known for having as a reputation to showcase the full spectrum of future tech innovation.

During the festival, a prototype of the AeroMobil was designed and manufactured by engineers led by CEO Juraj Vaculik and chief designer and CTO Stefan Klein, co-founders of the company, in just 10 months after the release of a basic pre-prototype, the AeroMobil 2.5.

"At Pioneers Festival we seek to inspire people by showing what is possible if you believe in yourself. This world premiere opens a new chapter in the history of aviation and we're proud that they choose Pioneers Festival to present the AeroMobil 3.0 to the public," said  Jurgen Furian, Co-Founder of Pioneers, according to a company press release.

The car can reach speeds of over 100 mph and tops at around 124 mph in the air. AeroMobil is capable of landing on just a 50-metre strip of grass, though it needs a 250-metre runway for takeoff, and has flying range of 430 miles.

Klein said he is "very happy" with what the company has been able to achieve in such a short time with a team of only 12 people. He added that AeroMobil 3.0 isn't the "end of a challenging project" but the beginning of a whole new adventure which may change the way how we look at the personal transport in the future."

"I believe that AeroMobil will inspire new ways of thinking about personal travel. It may really enable new ways of travel advancing it to a new level. We are set to reinvent the flying car without constraints and deliver excitement through unique technical solution and design," said Vaculik, according to the release.

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