Karnataka's Innovation Boost: SpaceTech Center and LEAP Initiative

Karnataka's cabinet has approved key initiatives, including a Space Technology Centre of Excellence and the Local Economy Accelerator Programme. The SpaceTech CoE will address infrastructure shortages, while LEAP will support startups. Amendments to policies and funding for medical facilities were also approved to boost Karnataka's development and innovation.

Karnataka's government has unveiled significant initiatives to drive innovation and development in the state. A Centre of Excellence (CoE) in space technology and the Local Economy Accelerator Programme (LEAP) will receive cabinet support as part of a broader strategy for economic growth.

The SpaceTech CoE, approved with an allocation of Rs 10 crore over five years, is set to operate as a Section 8 company in collaboration with the Satellite Communication Industry Association (SIA-India). This project aims to enhance testing infrastructure for the growing number of prototypes from the state's startup ecosystem.

Additionally, the LEAP initiative, with a Rs 1,000 crore budget, seeks to bolster the local startup scene and establish Karnataka as a leading innovation hub. The cabinet also passed several amendments and funding allocations for medical facilities to ensure comprehensive state development.

(With inputs from agencies.)