"The new policy will be presented before the cabinet for clearance by the end of August," Chatterjee said.
Now, the IT start-ups are provided a venture capital fund of INR10 lakh. However, Chatterjee did not specify the extent of the increase.
The minister said that the state wanted to rope in quality businesses, like knowledge process outsourcing and analytics.
"I have already held informal parleys with a leading consultancy firm for undertaking analytics work," he said.
Earlier, addressing businessmen at the ICT East, an annual IT conclave organised by the Confederation of Indian Industry (CII), Chatterjee urged them to come to the government with proposals.
"You are a stakeholder in the state's development and, without you, we cannot carry out development. We will look into all proposals if you come to us," he said.