Australia’s top innovative company revealed - it’s just 15 months old

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The AFR BOSS Most Innovative Companies list has revealed Australia’s best innovator and the top-listed businesses in 10 categories.

for a ground-breaking solar-powered water purifying system.

Lumby and Walker realised that by automating the mortgage application and approval process, which involves collecting information such as property valuation, credit bureau and financial transaction data electronically, it could reduce the completion time to about 10 minutes from the three or four weeks banks were typically taking.

A game changer for the young company was signing a deal this year with cloud-based software behemoth Salesforce to sell its software among hundreds of other software-as-a-service products available on the platform.Of the direct to consumer side of the business, Walker says: “It’s certainly not a growth focus for us at the moment.”

“Unencumbered by how [a particular process] had always been done, he looked at it from the technology, and the customer experience side,” Walker says.Advanced Navigation wins the Best Product Design award for its Hydrus product, a fully autonomous subsea drone that can undertake missions of up to three hours and which has reduced underwater data capture expenditure by 70 per cent for customers.

The Best CSR Innovation award goes to free mobile laundry and shower service provider Orange Sky Australia for its Waru Dryer, the world’s first diesel-assisted and solar-powered clothes dryer. The dryer reduces energy consumption by 80 per cent for each Orange Sky’s vehicle. Early next year AgiProve will embark on a $US25 million series B funding round to finance its local and global expansion. Countries such as South America and the United States are considered ripe for expansion.

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