81. Ruby Wang (37)
Nudie Glow
Melbourne
Ruby Wang was working as an actuarial analyst for a global investment firm when she stumbled upon a discovery that would lead her on an entrepreneurial path in the beauty industry.
Whilst Wang had never been into make-up while growing up and preferred a more natural look, on a trip to Asia she was smitten with Korean beauty products with routines she believed could be the secret to “Korean flawless skin”.
After starting these routines Wang felt more confident leaving the house with a bare face, so she embarked on setting up her business Nudie Glow in 2016, which involved more than 100 cold emails, a flight to Seoul, and months of self-study and website building.
It is a venture that has grown steadily over the past eight years, bringing Korean products to the Australian market and developing a following.
“We import mainly Korean beauty from South Korea, the beauty capital of the world, where their products are known to be effective, innovative and affordable,” Wang says.
“Looking after your skin on a daily basis is very important, but finding effective products that are actually affordable can be a challenge, that's why lots of people are now switching from western beauty brands to Korean beauty brands once they discover them.”
Nudie Glow has predominantly focused on e-commerce and wholesale, but in January the company launched its first bricks-and-mortar store in the Melbourne CBD, with plans to open another in Chadstone in a few months’ time.
82. Allana Ford (35)
Muse Pilates, Spicy Pilates
Hunter Region
Allana Ford had always been a fitness fanatic but it was the recovery process from knee surgery that taught her the transformative benefits of Reformer Pilates, prompting her to launch the first Muse Pilates studio in Dulwich Hill in 2019.
Ford’s idea was to make Reformer Pilates fun, accessible and inclusive for everyone regardless of body type, fitness level, or experience.
“I wanted to create a space where people felt comfortable in their bodies and empowered by their workouts,” she says.
“Muse is all about building a welcoming community where clients can enjoy a fantastic workout while feeling supported and accepted.
“At Muse, we’ve worked hard to ensure that our studios are a judgment-free zone where everyone can leave feeling stronger, more confident and better than when they arrived.”
This approach has resonated with members of the group that is now headquartered in Warners Bay at Lake Macquarie, with 13 studios that are “designed to be an oasis of calm, with small class sizes, luxurious facilities and expert instructors who provide personalised guidance”.
The majority of these locations are in NSW, but the group has four in the ACT and late last year opened its first Queensland location on the Gold Coast.
Three studios in the network are owned by franchisees, and the brand is also set to launch its first location in Wagga Wagga within a couple of months.
Critical to the growth of the business is Spicy Pilates, an online Pilates trainer certification business that is delivering a cohort of new trainers for the booming sector.
“I established Spicy Pilates because we had so many people come to us at Muse asking where they could get trained,” says Ford.
“I could see the opportunity where instead of sending these people away we could keep them in our world, funnel them back into Muse and hand pick the best instructors. We have had quite a few people coming through the Spicy Pilates program and we are growing.
“Speaking to a lot of potential franchisees they see great benefit in having people already trained to potentially work for them.”
83. Jared Ooi (39)
Maco Electrics
Gold Coast
Jared Ooi launched Maco Electrics in 2016 to offer a streamlined, end-to-end solution for electrical, security and communications systems.
The company works closely with developers and builders to ensure project success, from initial feasibility studies through to ongoing maintenance.
“We take charge of the installation and procurement processes, managing all on-site activities, including collaborating with specialist contractors when needed,” Ooi explains.
“After project completion, we offer reliable and efficient maintenance solutions to ensure the continued optimal performance of the systems,” he says, adding Maco’s approach has made it a go-to partner for developers and builders.
Following significant growth in FY24, Maco Electrics has expanded its focus to target Tier 1 projects across Queensland, including in the university and multi-unit development segments of the market.
In addition, Ooi continues to position the company around future government infrastructure works in preparation for the 2032 Olympic and Paralympic Games in Brisbane.
84. Sterling Sheddan (37), Dillon Adams (39) and Abdul Muqtadir (32)
Fastway Enterprises
Gold Coast
Founded in 2023, Fastway Enterprises has quickly established itself as a one-stop shop for earthworks equipment hire and related services, such as waste and recycling solutions and acid sulphate soil management.
The trio of founders previously worked at a competitor in the space, but believed their skills and expertise could drive the industry forward in innovative ways, with a shared vision for delivering reliable, cost-effective logistics solutions.
“In a fast-paced market where timely and accurate delivery is essential, we leverage our extensive network to connect with the right clients and ensure exceptional service,” says Sterling Sheddan.
“Our solutions cater to businesses of all sizes, from small to large, providing tailored logistics services that meet our client's specific needs.”
As one of the fastest-growing companies in Queensland, Fastway Enterprises has been growing its team, expanding into new regional markets, forging strategic partnerships and implementing cutting-edge technology to optimise delivery routes and tracking accuracy.
85. Mennan Yelkenci (34)
Tierra Consulting, Booked AI
Melbourne
Mennan Yelkenci started his entrepreneurial career by founding Tierra Consulting Group in 2023, seizing on a market inefficiency in renewable energy and turning it into a multimillion-dollar consultancy.
It was familiar territory for Yelkenci, who had worked in the industry for 13 years specialising in land access and acquisition for infrastructure projects, so after identifying a market need in the fast-growing renewable energy sector he found “minimal obstacles” to entry.
“With a deep understanding of the complexities involved, the company excels in identifying and negotiating optimal sites for solar, wind and energy storage projects,” he explains.
“By streamlining the land acquisition process, Tierra ensures the efficient development of renewable energy infrastructure across Australia.”
With its emphasis on community engagement and environmental stewardship, Tierra Consulting achieved remarkable growth in its first full year of operation. Yelkenci then leveraged that success to venture into the tech world and travel industry.
Booked AI, the world’s first travel agent powered by artificial intelligence, is able to automate bookings and create tailored itineraries, and is supported by partnerships with more than 200 airlines and 1,000 accommodation providers.
The platform’s credibility is reinforced by International Air Transport Association (IATA) registered travel agent accreditation, which is normally the domain of human agents.
“Our goal with Booked AI is to make travel as seamless and enjoyable as possible,” the founder explains.
“By combining cutting-edge technology with the personal touch that travellers crave, we’re offering a travel experience that is more intuitive, responsive, and effortless than ever before.”
86. Matt Purcell (36)
KYU Media, Social Kung Fu, The Business Academy
Sydney
Prolific entrepreneur and branding guru Matt Purcell shot to social media fame in 2018 with his The Examined Life podcast featuring high-profile personalities, which ultimately led him to found a creative agency the following year.
Formerly known as Mentored Media but rebranded as KYU Media in 2023, the agency helps companies and founders discover their identity through marketing, branding and public relations (PR).
KYU has attracted clients including American Express, Sony, former professional surfer Layne Beachley and entrepreneur Erin Deering, while Purcell himself went on a three-state solo speaking tour about personal branding last year that drew hundreds of founders to listen to his insights.
It wasn’t as if his journey as a founder started with the agency however, having previously founded his own mentoring centre, and a National Disability Insurance Scheme (NDIS) provider which he later sold, not to mention a previous life as a session guitarist playing on stage with such artists as Jimmy Barnes and Thirsty Merc.
In addition to the agency, Purcell has also been busy with Social Kung Fu, a verbal defence program for school students that he is now expanding upon via the development of an AI-powered app, and The Business Academy.
Through in-person events and online courses, the latter offers business owners practical, real-world guidance to build successful global brands. It was also co-founded with someone who has done just that - one of Purcell’s earliest podcast guests, Boost Juice founder Janine Allis.
87. Luke Vaughan
Vaun Group of Companies, Crown Realty International, ADV Solutions
Gold Coast
From his entrepreneurial beginnings with Crown Realty International, prolific founder Luke Vaughan has branched out to start and operate numerous ventures including jump-form systems provider ADV Solutions and his practically eponymous development group Vaun.
Vaughan founded Crown Realty in 2013 at the age of 25, which caters to homeowners and sophisticated investors as a full-service agency aiming to “accelerate returns through short-term letting where appropriate and still handle long-term letting all under one roof”.
Through the agency he met would-be partners who have either invested or teamed up with him on different ventures that form part of the Vaun Group of Companies.
“The aim is to become a medium to large-scale integrated group of companies focused on property, finance, construction, construction systems, development and trading for goods servicing these industries,” Vaughan explains.
One of his fastest-growing ventures is ADV Solutions, which grew its revenue 14-fold between FY23 and FY24.
“The highrise formwork market for specialist jump-form systems has gone uncontested and without innovation for a long time,” he says.
“Our goal was to strike an exclusive relationship with the world's best system - currently the most prolifically used for super-highrises in Dubai - and bring that innovation to Australia,” he says, in reference to the proprietary Turiim system for which the company struck an exclusive agreement for handling Australia-wide.
“We have also engaged with Turiim in a reciprocal development relationship using Australian engineers and software developers to create software that allows for computer-assisted design of formwork systems.”
88. Harry Sanders (27)
StudioHawk
Melbourne
Search engine optimisation (SEO) agency StudioHawk has been through a “whirlwind” year in the words of its founder Harry Sanders, expanding an existing international operation that already included the UK into a much larger market – the USA.
Sanders says the 2024 US expansion clocked up early success and is likely to triple in size over the course of this year, while the group has also expanded its offerings into digital public relations (PR) and AI search optimisation.
“We have welcomed a lot of new staff members, implemented a brand-new learning and development initiative for people with no experience, as well as donated a further $50,000 towards getting kids off the street through the Lighthouse Foundation,” he says.
Donations to the Lighthouse Foundation have been close to Sanders’ heart since the business had the capacity to give back, as he started StudioHawk itself whilst homeless in 2016.
“When I got my first couple of clients, I was able to move into a shared house, get a roof over my head,” he says.
Sanders says his passion for SEO attracted "amazing people", and now the company has 80 staff globally and is 5 per cent staff owned.
“We make the dark magic of SEO palatable to the every man, and we do it well. We love to educate everyone about SEO, to share the mysteries of backlinks and title tags.
“Our work is no-fluff, good honest work, and we supply it to small to medium businesses, and enterprise-level e-commerce clients, with the same deal, no matter the price. If you don’t like it, you can leave - no lock-in contracts.”
89. Sajjad Naveed (38), Skye Theodorou (35) and Anish Sinha (37)
Upcover
Sydney
Established originally in 2019 to help gig workers simplify complex insurance schemes, Upcover has since evolved into a sizeable provider of insurance products to a clientele of more than 60,000 businesses.
This is more than double its SME customer base 18 months ago. Amidst such momentum, the online insurance broker raised $19 million in a Series A round recently, comprising $11 million in equity and $8 million worth of debt.
“We’ve defied the odds with Upcover,” says Upcover co-founder Skye Theodorou.
“Not only has the business thrived during one of the hardest years Australia’s startup industry has seen, but we’re also competing against four of Australia’s largest companies who control 80 per cent of our market. It’s no wonder we’re still the only startup in this sector of insurance.”
The company’s insurance product offerings include public liability, professional indemnity, directors’ liability insurance and dedicated specific insurance for scaling and technology businesses.
Upcover also facilitates “one-click financing” for business insurance products offered on its platform, along with white-labelled insurance solutions and insurance APIs (application programming interfaces) that enable brands to offer business-to-business insurance.
Theodorou claims the Upcover platform is one of the “few instances” where automation is “absolutely doing a better job than their human counterparts”.
“Staying independent, remaining nimble and cost conscious, and injecting new capital will enable Upcover to challenge the status quo of the analogue incumbents and disrupt the commercial insurance industry in 2025 and beyond,” she adds.
Related story: Online insurance broker Upcover secures $19m in Series A debt and equity as earnings double
90. Genevieve Day (33)
Day Management
Melbourne
After six years of working in lifestyle public relations, Genevieve Day became an early adopter in the world of influencer marketing when she noticed heightened interest in the interface on social media between talent and brands.
This led the entrepreneur to found Day Management in 2015 as one of Australia’s first digital-led agencies, which has retained a firm footing in its field.
“In 2024, Day Management continued to lead the influencer marketing industry, completing over 1,200 talent-led campaigns with global brands such as L'Oreal, Uber, Nike and Apple to name a few,” she says.
“Our talent continued to define the new age of influence, where Day Management transcended the social landscape securing ambassador roles, book deals, podcast contracts, TV spots and live event hosting opportunities.”
Day says her background in branding and PR gives Day Management a special industry advantage to not only manage the careers of some of the country's leading talent, but also “deliver incredible results for our brand partners with engagement, awareness and sales”.
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