Local Economy Accelerator Programme (LEAP) Launched by Karnataka to Boost Regional Growth
Local Economy Accelerator Programme launched by Karnataka to boost startups, innovation, infrastructure and entrepreneurship in Tier-2 and Tier-3 cities.
Local Economy Accelerator Programme (LEAP) Launched by Karnataka
The Karnataka government has launched the Local Economy Accelerator Programme (LEAP) to promote innovation and entrepreneurship across the state. With a budget of ₹1,000 crore, the programme aims to take technology growth beyond Bengaluru and support startups in Tier-2 and Tier-3 cities. Over the next five years, it will focus on building infrastructure, offering mentorship, and improving market opportunities for entrepreneurs.
Table of Contents
An Overview of the LEAP Programme
LEAP is a five-year initiative aimed at building innovation hubs in Karnataka’s smaller cities. The programme focuses on setting up ready-to-use workspaces and co-working centres.
It also provides startups with mentorship and market connections, helping them grow faster. The main objective is to develop local talent and encourage entrepreneurship across the state
Special Focus on Mangaluru and Coastal Karnataka
Under LEAP, Mangaluru has been identified as a major focus area with the development of a 3.5-acre technology park. This park will provide 3.5 lakh sq. ft. of workspace, creating opportunities for around 3,500 professionals.
The Mangaluru cluster, which also includes Udupi and Manipal, has the advantage of skilled talent and strong partnerships between the government, educational institutions, and industry. With these strengths, the region aims to build a tech ecosystem that can compete with Bengaluru.
Building New Technology Hubs Across Karnataka
Bengaluru contributes nearly 40% to Karnataka’s GDP, while Mangaluru ranks second with 5.4%. Through LEAP, the state aims to replicate Bengaluru’s success story in other regions.
The vision is to create multiple growth hubs across Karnataka, decentralising innovation and opportunities. This approach aligns with the ‘Beyond Bengaluru’ initiative, which focuses on spreading economic development to more cities.
Government Approach: Empowering People, Strong Policies, Active Participation
Karnataka’s strategy combines people, policy, and participation. The government emphasizes that strong policies are not enough without active engagement from industry and academic institutions. This 3P approach fosters collaboration and drives sustainable growth in the state’s innovation ecosystem.
Ambitious Plans for Key Sectors
“Karnataka is at the forefront with innovative policies in IT, biotechnology, research, electric vehicles, space technology, and cybersecurity.
Over the next four years, the state plans to set up 500 new Global Capability Centres (GCCs), creating more than 500,000 jobs. Additionally, a new circular economy policy will be introduced soon to encourage sustainable growth.
Karnataka Digital Economy Mission: Key Role and Impact
The Karnataka Digital Economy Mission (KDEM) leads initiatives such as Mangaluru Technovanza, providing a platform for government, academia, and industry to collaborate.
KDEM plays a key role in building a strong digital economy and supports the ‘Beyond Bengaluru’ vision by promoting growth across the state’s regions.
LEAP to Transform Regional Startup Ecosystems
The Local Economy Accelerator Programme (LEAP) represents a major step toward creating a balanced and inclusive innovation ecosystem across Karnataka. By expanding opportunities beyond Bengaluru, the initiative aims to empower entrepreneurs in Tier-2 and Tier-3 cities with better infrastructure, mentorship, and access to markets. This approach can help unlock local talent, encourage regional economic growth, and build stronger startup communities that contribute to long-term development across the state.
Summary
The Local Economy Accelerator Programme (LEAP) launched by Karnataka aims to strengthen innovation and entrepreneurship across the state through a ₹1,000 crore investment. By focusing on Tier-2 and Tier-3 cities, the initiative seeks to build technology hubs, improve startup infrastructure, provide mentorship, and create better market opportunities, supporting balanced economic growth beyond Bengaluru.
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