Two Canberra businesses have been selected in the top 20 from across Australia for a national program to encourage high performers with growth potential.
QuintessenceLabs and Qirx in a Box were among 2000 aspirants in the Westpac "businesses of tomorrow".
The technology firms will receive a tailored $100,000 professional services package, one-on-one mentoring and will participate in a global study tour to learn from leading businesses in China and the United States.
QuintessenceLabs has developed a suite of data security products and solutions to protect valuable digital information.
Its groundbreaking qStream random number generator delivers an integrated solution to create the strongest possible encryption.
"QuintessenceLabs is leading the way in advanced cyber-security, delivering powerful, flexible and cost-effective solutions to protect data," judge David Lindberg, chief executive of Westpac Business Bank said.
"QuintessenceLabs' use of technology, backed by in-depth research and development has allowed the creation of a very unique capability that meets a gap in the market."
"This recognition by Westpac is quite an accolade," company spokesman Vikram Sharma said.
"This is a further endorsement of QuintessenceLabs' innovative work as we deploy our highly secure solutions for a rapidly expanding roster of partners and customers."
Qirx in a Box provides access to the knowledge and skills for customers to build their own cloud environments. It enables them to achieve in-house what previously required external consultants.
"Qirx demonstrated a clear vision to be the market-leading cloud reference site, with goals to achieve global expansion," Mr Lindberg said.
"The company is highly collaborative to align and work more closely with distributors and technology vendors."
Technology firms made up 40 per cent of the top 200 businesses.
Selection criteria included business purpose, contribution to customers and the community, current strengths and vision for the future.
The digital economy is estimated to grow by 10 per cent each year and be worth $139 billion by 2020.
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