MENU

Do you own shares of the most innovative businesses in Australia?

We live in an increasingly technological world. A business has to offer something quite innovative to stand out from the crowd these days.

The Australian Financial Review just released its 2018 100 Most Innovative Companies in Australia and New Zealand list, which was judged by an expert panel assembled by the AFR and Inventium.

Businesses were asked to explain their innovation based on the idea, the problem and the impact. They were judged on how unique the idea is, how well it solves the problem and if there is clear evidence that the idea has made an impact.

Here are some of the highlighted businesses:

Groundprobe – The winner uses laser scanning technology and improved its accuracy by over 170 times to make it the most accurate laser in the world. It is used this to monitor underground mines for instability in-case rocks move. This can be used to decide whether to stop or continuing mining if a collapse is imminent. Groundprobe was recently acquired by Orica Ltd (ASX: ORI) for $205 million. Orica came 20th on this years’ list.

Xero Limited (ASX: XRO) – The third on the list was ranked as the best service innovation. Not only is the company revolutionising how businesses, bookkeepers and accountants do their accounting but it also has an impressive education system set up to teach users how to use each function of Xero to improve their efficiencies.

MYOB Group Ltd (ASX: MYO) – The eighth on the list offers accountants MYOB Advisor, which is a ‘AI’ tool used to interpret data and give easy-to-understand descriptions of a business’ financial position which can be then customised by accountants. This is important because a lot of businesses rely on their accountant to provide business advice.

GUD Holdings Limited (ASX: GUD) – The diversified business came ninth for its Microlene Farm, which is a box which cleans a farm’s water to be clean and avoid contamination  which could impact cow health, milk productivity and machinery. This leads to less vet vists, less money on chemicals and better milk.

Some of the other highly ranked innovative companies were Pushpay Holdings Ltd (ASX: PPH) and Netwealth Group Ltd (ASX: NWL).

Foolish takeaway

If you own some of the most innovative businesses in your portfolio then you’ve got a good chance of beating the market. It’s businesses that can completely change the country, or the world, that go on to become titans of the industry over the years.

Another excellent Australian business with truly innovative technology is this exciting healthcare stock that is expanding in the US and Europe.

The ASX small cap up 285% with no sign of stopping...

One Australian company has developed a state of the art device that's revolutionizing hospitals all over the world. Even better, this device is so profitable that the company rakes in 90% margins. That's a lot of cash. So no wonder the stock's up 285% since 2008 – with no signs of stopping...

To discover the name and code, simply click the link below. You'll discover our expert's #1 medical technology pick... and you can decide for yourself whether to get invested today.

Click here to claim your free report.

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of PUSHPAY FPO NZX and 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 Scott Phillips.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!