Karnataka Launches Local Economy Accelerator Programme (LEAP)
Karnataka has introduced the Local Economy Accelerator Programme (LEAP) to encourage innovation and entrepreneurship across the State. This ₹1,000-crore initiative focuses on expanding technology ecosystems beyond Bengaluru to Tier-2 and Tier-3 towns. The government aims to build infrastructure, provide mentorship, and enhance market access for entrepreneurs over the next five years.
LEAP Programme Overview
LEAP is a five-year plan designed to create innovation hubs in smaller cities of Karnataka. It includes developing plug-and-play workspaces and co-working facilities. The programme supports startups with mentorship and market linkages. The goal is to nurture local talent and entrepreneurial spirit across the State.
Focus on Mangaluru and Coastal Karnataka
Mangaluru is a key focus under LEAP with plans for a 3.5-acre technology park. This park will offer 3.5 lakh sq.ft. of space to accommodate 3,500 professionals. The Mangaluru cluster, including Udupi and Manipal, benefits from strong human capital and collaboration between government, academia, and industry. The cluster aims to rival Bengaluru’s tech ecosystem.
Beyond Bengaluru – Creating Multiple Tech Hubs
Bengaluru contributes 40% of Karnataka’s GDP, while Mangaluru stands second with 5.4%. LEAP seeks to replicate Bengaluru’s success across the State. The vision is to have multiple Bengalurus in Karnataka to decentralise growth and innovation. This aligns with the ‘Beyond Bengaluru’ initiative to spread economic opportunities.
Government Strategy – People, Policy, Participation
Karnataka’s approach integrates people, policy, and participation. The government believes that policies alone are insufficient without active involvement from industry and academia. This 3P strategy ensures collaborative growth and sustainable development of the innovation ecosystem.
Ambitious Sectoral Policies and Future Plans
Karnataka leads with pioneering policies in IT, biotechnology, research, electric vehicles, space technology, and cybersecurity. The State plans to establish 500 new Global Capability Centres (GCCs) in four years, generating over 500,000 jobs. A circular economy policy is also set to launch soon to promote sustainability.
Role of Karnataka Digital Economy Mission
The Karnataka Digital Economy Mission (KDEM) drives initiatives like Mangaluru Technovanza. It acts as a platform for government, academia, and industry to converge and build a robust digital economy. KDEM supports the ‘Beyond Bengaluru’ vision by facilitating regional growth.
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