Technology start-ups hoping to be the next Atlassian are expected to crowd the IPO pipeline in 2016, but they won't be the only winners in the race for capital.
Companies that can solve the aged-care dilemma or tap into Chinese consumer demand are also expected to dominate in another busy year for IPOs.
Even before Prime Minister Malcolm Turnbull's promise of tax breaks for innovation investors, early-stage tech companies had been lining up for a 2016 debut, but what separates the new breed from the stars of the past is their global focus, said Richard Sleijpen, executive director of Equity Capital Markets Syndication at UBS. 
Unlike the SEEKs and the realestate.com.aus, which are predominantly Australian-focused, the new companies will have a broader global customer base, he said.
There are already examples of the theme playing out on the ASX: "Aconex, Surfstitch, Freelancer come to mind as companies that have had 100 per cent-plus performance in the last year and stand out in terms of their size and scale."
"There are a number of companies that are Australian-based, have global businesses, but are looking for capital to continue to grow, and the institutional market is looking for those sorts of exposures given the success they have had to date in the space," Mr Sleijpen said.
But innovation - and IPOs - don't have to be tech-based. "The healthcare and aged-care theme is likely to continue into 2016 and beyond, and deliver outperformance as the ageing demographic continues to put pressure on government healthcare funding, resulting in increased reliance on private operators," Mr Sleijpen said.
The other likely success stories will be those who can cater to shifting demands of Chinese buyers.
The Chinese consumer has been a huge theme that has driven significant outperformance in the last six months in particular. Companies including Blackmore's and a2 Milk, and floats of Bellamy's and Vitaco have all benefited from that theme.
Recently listed Wellard - Australia's largest live cattle exporter into the Asian market - "also taps into this theme," Mr Sleijpen said.
"Given the incredible growth these companies have seen from the Chinese middle class increasing their consumption of organic and healthy food, particularly food that comes out of Australia and New Zealand, I believe that theme will continue into 2016.
"I expect we will see more businesses come to market that are benefiting from that dynamic, but are also looking for additional capital to fund the growth opportunity."
Wellard, is however, among companies that have hit the bourse and traded in an underwhelming fashion in the past two months.
Companies that are already working on a 2016 listing include WiseTech Global, which provides logistics software, and plumbing fittings and water valves manufacturer Reliance Worldwide Corporation. State Plus, the rebadged financial planning business owned by NSW's SAS Trustee Corporation, may also be among those that formalise float plans.
Separately, the Australian Securities Exchange was the sixth-busiest for cross border IPOs in 2015 with $US318 million ($442 million) raised, according to a Baker & McKenzie report to be released on Tuesday. The Hong Kong Stock Exchange was the most popular destination followed by Nasdaq and London. But the report showed $US37.8 billion was raised in cross border floats this year, a 53 per cent drop on 2014. A cross border IPO reflects a listing outside a company's home market, including Atlassian's beginning public life on Nasdaq.
Turning back to Australia, from a volume point of view, 2015 was the year of the smaller IPO, with about $18 billion moving through the market compared with $8 billion the year before.
"Even if you remove Medibank, which was about $6 billion of 2014 volume, 2014 was still ahead of 2015 from a volume point of view with average deal sizes about 50 per cent higher," Mr Sleijpen said.
However, there was just as many deals. "Looking back to 2014, there were around 40 issues over $20 million in size that came to market. In 2015, we saw almost the same numbers - so another 40 issues coming to market in the over-$20 million-plus range."