Sri Lanka's most innovative and dynamic companies are to be showcased in a new initiative backed by the country's Joint Apparel Association Forum (Sri Lanka Apparel), which also aims to boost trade with the US.

The AllWorld's Sri Lanka Fast Growth 25 (SriLanka25) is part of the AllWorld Network, co-founded by Professor Michael Porter of Harvard Business School.

The scheme will recognise and rank the fastest growing and most exciting private companies contributing to the country's economic growth, with a rigorous international credentialing process that discovers entrepreneurs with a track record of success in growth markets.

The ranking will be published nationally and globally, giving visibility to emerging company stars.

With a spot on the list, the idea is that companies will gain global recognition, a network of growth entrepreneurs via AllWorldXChange, a technology platform to match companies around the world for immediate growth and investment opportunity and an invitation to the annual event.

"The goal of AllWorld's SriLanka25 is to present a deeper picture of Sri Lanka's entrepreneurial and innovative capacity based on real time annual information," said Anne Habiby and Deirdre Coyle, co-CEOs of AllWorld Network.

"This Sri Lanka25 ranking and accompanying data will facilitate access to capital, open new markets for entrepreneurs, provide real time feedback to policy makers and point the way forward for entrepreneurs to create the next economy for their country. When entrepreneurship takes hold, the growth momentum builds, generating economic breakthroughs and social progress."

The SriLanka25 application process is open to private companies in Sri Lanka who have been able to significantly grow their revenues in the past three years.