Westpac has released its 200 Businesses of Tomorrow list, with local IT businesses leading the charge in their representation of the tech sector.
The Westpac 200 Businesses of Tomorrow is a line-up of Australian businesses, big and small, that have a clear vision to shape Australia’s economy and have the qualities and potential to help tomorrow’s communities as Australia transitions to a services and knowledge-based economy.
Technology businesses that have made it onto the list include Ansarada, Damstra Technology, Droneshield, Qirx, QuintessenceLabs, REDARC Electronics, Adactin Group, Adepto, Araza, Augmentor, AUI Labs, Aurora VR, Avoka, Biarri Networks, BlastMe, Booodl, Brontech, Codecamp, Contexti, Dexterous Systems, EnrolNow, Evolve Intelligence, Experience the Pulse, and FlexRule.
In addition, GIS People, GRONADE, Guided Resolution, HRM Web Easyemployer, Hyper Anna, iGLoo Software, JEyLaBs, Jurimetrics, Liminal, Miktysh, Norwood Systems, NuaMedia Solutions, Polinode, Quantify Technology, Sentient Computing, The Missing Link Security, Vantage Interactive, VMtech, and Zeetings were also named on the list.
The 200 Businesses of Tomorrow were chosen from almost 2000 applications nationally. They were based on criteria such as business purpose, contribution to customers and the community, current strengths and vision for the future.
The list is heavily weighted to businesses in industries with high growth potential, with technology businesses making up 40 per cent of the top 200 businesses. Health and education sectors followed suit.
Westpac Business Bank chief executive, David Lindberg, attributed a Deloitte Access Economics forecast that the digital economy is estimated to grow by 10 per cent each year and be worth $139 billion by 2020.
“It’s pleasing to see strong representation among service-led sectors such as health, professional services and technology, all predicted to have strong growth over the next 10 years. These businesses demonstrated the potential for a higher purpose,” he said.
Of the list, 20 high potential businesses have also been revealed, which will receive a tailored $100,000 professional services package, one-on-one mentoring with some eminent Australian business leaders and will participate in a global study tour in China and the United States (US).
Some of the technology businesses named in the top 20 include Ansarada, Damstra Technology, Droneshield, Qirx, and QuintessenceLabs.
Ansarada created a cloud based solution for use in mergers and acquisitions, and is currently developing data analytics that compare and benchmark the behaviour of bidders to the profiles of successful, and unsuccessful bidders.
Damstra Technology owns a system of workforce management, and is a complete end-to-end product that captures and maintains data, as well as being a software platform.
As for Droneshield, it has developed patented software and hardware to detect drones and small unmanned air vehicles from over one kilometre away.
Canberra-based IT services provider , Qirx, develops tools to accelerate the development and growth of customers’ cloud sales and service offerings including for professional services and products.
A Nutanix partner, the company aided the vendor in a deployment for the National Blood Authority last year, by replacing its traditional storage area network (SAN) with the Nutanix enterprise Cloud platform.
Canberra based QuintessenceLabs offers advanced encryption solutions, integrating quantum technology expertise with cost effective data protection.
“We had so many businesses with the potential to go global, and one of the things we hope to do is support that expansion. I think it’s something all Australians should be proud of because we have all these great companies with the potential to take on the world,” Lindberg added.