Emergency services including the Lakes District Rescue Helicopter were called to the crash, which occurred in a paddock about 2km from the bottom of the Cardrona skifield access road. The man, in his 30s, received moderate injuries to his legs and back.
Paraventures runs a paragliding school based at the skifield and had a group in the area at the time. A member of the group, who did not want to be named, said he thought the man was flying solo and was unsure exactly what had happened.
The crash occurred about 500m from the landing area used by paragliders at the skifield.
A police spokeswoman said police were called to the accident about 1.50pm and assisted St John with the patient.