I believe that Australia is home to some of the most innovative and exciting companies in the world. These game-changing companies have the potential to carve out a whole new market all for themselves or disrupt the current market leaders.

Three companies in particular which I think have game-changing qualities are as follows:

Freelancer Ltd (ASX: FLN)

As the owner and operator of the world’s largest outsourcing marketplace I believe Freelancer is in a great position to battle it out with job-listing kingpin SEEK Limited (ASX: SEK). At the end of the July quarter Freelancer had over 20 million registered users and 9.6 million projects across 900 areas of employment posted on its platform. This led to gross payment volume growing by a massive 453% for the first half of FY 2016. Founder and CEO Matt Barrie believes the company has a large runway for growth. One area of employment which management has singled out as being particularly lucrative is the global web design market. A presentation earlier this year revealed the market to be an opportunity worth up to $2.7 billion per year for Freelancer.

Impedimed Limited (ASX: IPD)

Impedimed is an exciting medical device company which could have a very bright future ahead of it. Through the use of bioimpedance spectroscopy, Impedimed has technology which measures the fluid levels of a person by passing electrical currents through the body and recording its resistance. The company’s L-Dex product uses this to assist surgeons or oncologists in clinically assessing early signs of lymphedema. It has also used the technology to create a health and wellness product by the name of SOZO. The product scans the body to give the user a detailed assessment of their state of health. I see huge potential for SOZO and can imagine it appealing to doctors, gyms, and health fanatics. Especially with the company marketing it at just US$400.

Webjet Limited (ASX: WEB)

This year has been a tale of two travel agencies. Flight Centre Travel Group Ltd (ASX: FLT) shares are down sharply following signs of slowing growth, whereas Webjet shares have more than doubled in value thanks to its bumper profit growth. Although I feel Flight Centre’s diverse business will help it return to growth in due course, the rise of online travel booking looks likely to keep the wind in Webjet’s sails for some time to come. This year Webjet reported a 30% rise in full year revenue to $154.5 million and a 27% jump in net profit to $22.2 million. This strong performance looks set to continue with analysts forecasting earnings growth of 33% per annum for at least the next two years according to CommSec.

Finally, if you need to make some room in your portfolio for these shares then I would highly recommend taking a look to see if you own these wealth destroying shares. Each could be harming your portfolio and might be best swapped out if you ask me.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.