Westpac announces 200 Australian businesses that will help unlock $70b in economic value


As part of its Businesses of Tomorrow program, Westpac has today recognised 200 ‘outstanding’ businesses, including 20 ‘high-potential’ organisations, that have “demonstrated a clear vision to shape Australia’s economy… as it transitions to a services and knowledge-based economy”.

The 200 ‘Businesses of Tomorrow’, which have a collective turnover of approximately $2 billion per year and supports thousands of employees, were drawn from a pool of almost 2000 applicants nationally by a judging panel following an independent assessment by Deloitte.

Each of the 20 ‘high-potential’ businesses will receive a tailored $100,000 professional services package, a ‘global study’ tour of the USA and China and access to a tailored mentoring program that will pair them with an influential business leader throughout April and August. Amongst the mentors to be matched to a business are Carla Zampatti, Ita Buttrose, John Eales, Tim Fung and Andrew Vesey.

David Lindberg, Chief Executive, Westpac Business Bank, said the judging panel, which included former Microsoft Australia MD Pip Marlow and Reinventure Group MD Simon Cant, were impressed by the calibre of applicants

“We had so many businesses with the potential to go global, and one of the things we hope to do is support that expansion,” he said.

“Our goal is to look back in 10 years’ time and be able to confidently say we supported some of the businesses that helped shape our nation. We have identified an incredible group of businesses and business leaders, and I look forward to following their journey and successes for years to come.”

In support of its Businesses of Tomorrow program, Westpac released a report by Deloitte Access Economics, which found that harnessing the business leadership potential of Australia’s outstanding businesses represents an opportunity to unlock $70 billion worth of   economic potential. This translates into a 4 per cent increase in the nation’s GDP (PPP-adjusted).

To read our interview with the CEO of Damstra Technology, which was recognised by Westpac as one of 20 high-potential’ Businesses of Tomorrow, click here.

For the complete list of Westpac’s 200 Businesses of Tomorrow, including the 20 ‘high-potential’ ventures (bold textclick HERE.