If you thought the Dotcom boom was a one-off, then you would be wrong, according to a group of Oxfordshire entrepreneurs.

They believe the 'Green Valley' around Oxford could become the new Silicon Valley, with a 21st-century explosion in environmental businesses.

Martin Chilcott has set up Meltwater Ventures in Prama House, Summertown, to 'incubate' the green companies which he believes are best positioned to grasp the opportunities offered by climate change.

A serial entrepreneur who sold his dotcom company, Clarity, in 2000, he got together with colleague James Tarin and Oxford University to brainstorm what was needed to move Britain towards a low-carbon economy.

Mr Chilcott said: "I had always wanted to have a business in education and the environment. I have a business called Place Group, which is involved in the academies programme, and Meltwater is the environmental one.

"We come up with the ideas first, then we attract experienced management teams and money."

He added: "In conjuction with the Environmental Change Institute, we are trying to understand how climate change and legislation, as well as consumer pressure, are forcing businesses to adapt. We look at the difficulties and see how new businesses can solve environmental problems, and at the same time be very successful."

Their first company, 2Degrees, launched early this year, is a professional networking site involving all the main movers and shakers who keep Britain's biggest companies in tune with new environmental laws and customer demand.

Using the same technology which has led to the success of MySpace and Facebook, 2Degrees connects top people employed by supermarkets or property developers with specialist providers and academics who can advise on the best solution to their environmental problems.

Members are carefully selected so as not to waste the time of busy people, working in a high-pressure environment.

Mr Chilcott explained: "Most of the big landowners are members. Many companies have environmental responsibilities by law, but if you are a tenant, for instance, is it your duty to comply or is it the landlord? We have a whole section on green leases, with advice from Australia, where the system has been going for a long time.

"Large businesses all have an environmental strategy, but they have a huge job to put it into practice in their supply chains. We help them put their strategies into operation."

The name comes from the two degree temperature change which is the maximum before a catastrophic chain of events is set in motion — and the two degrees of separation which are achieved on the 2Degrees website, as opposed to the six degrees of separation said to exist in the real world between two random people who don't know each other.

Mr Chilcott said: "Bioscientists, generally, don't talk to heading engineers or facilities managers and farmers. To turn a supermarket supply chain around to avoid waste you need to get people together who wouldn't normally co-operate."

Three more Meltwater companies are poised to launch in the next few months. The Zero Carbon Company — a partnership with Mitie Engineering — offers green solutions to property developers, Simply Green advises small businesses and large homes on upgrading insulation and energy-saving systems, while Golow offers software to help large organisations make better use of taxis.

At the moment, all Meltwater's companies are based in Prama House, and Mr Chilcott believes Oxford is well placed to be at the centre of environmental business growth.

"It's part of the Green Valley phenomenon, a bit like Silicon Valley was — an explosion of interest in the environment. We have Climate Care, Eco Securities, and a number of small and large consultancies concentrated around Oxford.

"It's partly because we have some world-class institutions in the university, but we also have an influx of money and talent out of London. Oxford is such a lovely place to live and it's cosmopolitan. It has also attracted a lot of venture capitalists, entrepreneurs and engineers.

"The university's liberal, progressive culture also helps. People are highly aware of the changes to the planet. I think there is something in the atmosphere which is analogous to Silicon Valley and the Internet revolution. Oxford and the Thames Valley could be the centre of the sustainability revolution."

Ian Curtis, of the Environmental Change Institute, agrees. He said: "There is an interesting opportunity for Oxfordshire to grab a share of the market. There is a lot of expertise here that is not necessarily joined up."

Like Mr Chilcott, he is sanguine about the dangers of trying to emulate the dotcom boom. "Inevitably, because it's a new market, it bounces around. In a contracting economy, it will bounce more than other sectors. Look at the dotcom sector now — it boomed, it dipped but ten years later it rose again."

FACT FILE: Name: Meltwater Ventures Established: 2007 Chief executive: Martin Chilcott Number of staff: Four companies employing 20 directly, plus freelances Annual turnover: n/a Contact: 01865 339431 Web: www.meltwaterventures.com, 2degreesnetwork.com.