Hi there, I can't give much insight into other firms but I was involved in building LEAP by McKinsey in the Middle East. The way a typically LEAP engagement might run:

• Ideation phase (2 weeks): Look at the existing business with the client and understand where there are spaces for disruption and a right to win (this will be typically staffed with generalist consultants and folks from McKinsey Design)
• Strategy phase (6 weeks): This will involve building out the business case/strategy for the new venture, draft tech stack & wireframes of the interface (if applicable) (this is typically staffed with generalists, designers and core tech specialists)
• Build phase (36-52 weeks): Where an MVP is built :)

To give you a sense of industries LEAP features in, in the Middle East, I did LEAP projects in healthcare, construction, housing etc. building marketplaces and e-comm offerings.

Happy to talk about my experience/Middle East if helpful on a call :)

(edited)