If anyone doubts whether Australians entrepreneurs are making money out of the Internet, they should read this article that I wrote recently for SmartCompany. Australian Web entrepreneurs are making the most of 20 years of Web-based technological development and rapidly changing consumer behaviour to create fast-growth businesses with minimal cash outlay. Recent sales of companies including RetailMeNot and Spreets have shown that there is genuine money to be made out of good ideas online, and you don’t need a portfolio of patents to make it happen.

UPDATE: The story got a second lease of life, being picked up by Renai LeMay’s Delimiter site. You can read Renai’s thoughts, and those of entrepreneur Roger Kermode, by clicking here.