India, March 7 -- In an effort to bolster the startup ecosystem and boost entrepreneurship, the Karnataka government has announced an INR 300 Cr Fund-of-Funds and INR 100 Cr corpus to support the deeptech startups in the state.

The announcement was made by chief minister Siddaramaiah during his state budget speech today (March 7).

A Moneycontrol report said that these investments are part of the government's broader Local Economy Accelerator Programme (LEAP), launched with a grant of INR 1,000 Cr to create jobs in tier II and III cities.

The programme is expected to generate 5 Lakh jobs across the state, along with a major focus on developing the startup ecosystem in Mysuru, Mangaluru, Hubballi-Dharwad and Kalburgi. It will follow a li...