The good folks at NetSquared have come up with a great idea. Their 2007 Conference is a meta-2.0 experiment — using web 2.0 principles to help launch web 2.0 projects. (So recursive!)

Anyone using web 2.0 technologies for social good is encouraged to apply to their Technology Innovation Fund. The top 20 projects, as chosen by an online community, will be featured at the May 29-30 conference in San Jose. All will get good advice and feedback from some smart people, and the project that most impresses the community will get a fat wad of cash to accelerate to the next level. Think venture capital fair for do-gooders, with less strings attached.

Marnie Webb of NetSquared told me today that she’s encouraging a wide variety of projects to apply. “We couldn’t have foreseen every type of good project when we wrote the criteria,” she said. So if you’ve got a project that even loosely fits the project guidelines, go nominate yourself now. At the very least, you’ll get some free publicity among a highly tech-savvy audience.