Last week, the first Tech Pioneers report was published, featuring the 50 most innovative companies in Australia and New Zealand. The report was prepared by venture capital firm, H2 Ventures, together with asset manager, Investec Australia.

Coming in at number 1 was Australian software company Atlassian, which listed on the NASDAQ exchange last year valued at around $6 billion. Many of the 50 are privately held companies, however, there are at least eight which are now trading on the ASX and available to invest in.

XERO FPO NZ  (ASX: XRO)

Ranked at number 2 on the list, Xero has posted impressive growth in Australia and New Zealand with its innovative cloud based accounting software. More recently it has begun aggressively campaigning for customers in the US and UK, and it appears to be gaining traction.

Shares are currently trading around $15, which in my view represents a decent entry point for long-term investors.

Freelancer Ltd  (ASX: FLN)

Freelancer is the world’s largest freelancing marketplace with 19 million users and 8.8 million projects posted. It has been growing quickly and acquiring smaller competitors and related businesses such as Escrow.com.

Currently at $1.55, Foster Stockbroking has a 12-month price target of $2.29.

Aconex Ltd  (ASX: ACX)

With more than half a million users across 70 countries, Aconex is the world’s most widely used collaboration platform for construction, engineering and infrastructure projects.

Shares are up over 200% in the last 12 months, and trading at a 52 week high.

3P Learning Ltd  (ASX: 3PL)

3P Learning provides online learning tools and is used by over 5 million school students worldwide. Long-term investors could be rewarded if plans to continue expanding internationally are successful.

Shares are down over 50% in the last year, with volatility caused by a change in CEO. However, shares had a strong bounce on Friday, up nearly 16%.

BuildingIQ Inc  (ASX: BIQ)

BuildingIQ provides a cloud-based software solution to improve the efficiency of energy systems in commercial buildings, thereby reducing consumption costs by as much as 25%. The company uses technology developed by the CSIRO and has over 140 buildings under management in Australia and the US.

Shares have not performed well since listing last year, and are currently down around 33%.

Catapult Group International Ltd  (ASX: CAT)

Catapult has produced wearable tracking technology for analysing athletic performance which is currently being used by over 700 sports teams globally.

Sales have been growing strongly, with the latest quarterly update reporting record numbers. Shares are up over 200% in the last year.

OzForex Group Ltd  (ASX: OFX)

OzForex provides online international payment services. Shares are down 35% year to date, after Western Union withdrew its bid to buy the company.

OzForex has demonstrated strong growth in the last few years, however, the fintech space is experiencing rapid change, and it is difficult to project whether OzForex’s competitive advantage is sustainable.

Martin Aircraft Company Ltd  (ASX: MJP)

Martin Aircraft is a New Zealand based company which has developed the Martin Jetpack. The jetpack is designed to take off and land vertically, lending itself to numerous commercial applications, and potential recreational demand in the future.

Although it is clearly an exciting product, time will tell whether the business will be a good investment. Shares are currently trading at around 43 cents.

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Motley Fool contributor Matt Bugden has shares in Xero and Freelancer. The Motley Fool Australia owns shares of Xero. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.