Sydney-based cloud computing service OrionVM launched today, and according to cloud benchmarking site Cloud Harmony, has the fastest network-backed storage performance in the world.

The project began in a dorm room in early 2010 as a collaboration between University of Technology students Joseph Glanville, Alex Sharp and Sheng Yeo, with the goal of becoming Australia’s highest performing cloud computing platform. They built the platform on $6,000, working at night after university classes and their day jobs.

OrionVM has been in public beta for the past month and launches officially today. Though most companies steer clear of April 1st launches for the obvious reasons, OrionVM isn’t a joke, and according to my own tests on Cloud Harmony, the service lives up to high-speed claims.

A brief look at the web’s history shows that innovation is often driven by the most unlikely candidates. A few Australian college kids building a platform that’s faster than prevailing cloud king Amazon’s services may be quite the David and Goliath story in the making.