"It's not another dotcom bomb," says Cleantech investment principal Jan Dekker about the economic landscape that's showering green technology startups with VC cash.

Australian IT reports...

The Cleantech Venture Network reports that North American and European venture capital investment in cleantech hit $US3.6 billion ($4billion [Australian]) last year, up 45 per cent from 2005 and more than double the $US1.7 billion pumped into the sector in 2004.

And Australia is seeing its share of a percolating green tech economy in part because water shortages there may lead to some interesting developments in the space. Regardless, Dekker's comment above reflects his belief that green technology, unlike the dot-com mania of years past, isn't burdened with creating, growing and serving the very same market. Eco-savvy ventures, in his view, address an existing one.