Private investment in European Web 2.0 projects doubled during the first half of 2007.
The level of investment rose to £25.7m according to Dow Jones VentureOne and Ernst & Young.
The success of social networking and mash-ups has increased investors propensity to invest in Web 2.0, which are increasingly being adapted to the corporate market.
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US-based ventures are also being encouraged to back similar projects around the world, similar to the trend during the first dotcom rush in the late 1990s.