Medical technology player PolyNovo is one of them.
The company is based around CSIRO technology, producing a foam which helps burnt and damaged skin recover more quickly.
The company’s polymer-based Novosorb acute wound management product is being targeted at multiple medical issues, including diabetes, hernia and breast repair.
Chief Paul Brennan, who came from Smith &Nephew Australia, has run the company for the last three years and helped expand the business to the US and South Africa.
On Macquarie estimates PolyNovo will progress from a $3.3 million earnings before inter and tax loss this year to positive $3 million in 2021.
It says revenue will grow from $5.7 million last year to $39.4 million in 2021.
Fidelity is listed as the biggest shareholder with around 4 per cent of the stock, or 28 million shares. CSIRO is also keeping its finger in the pie, with 0.62 per cent or 4 million shares.
In a recent report Macquarie noted the inherent risks in medical start ups but put PolyNovo at the “lower risk” end of the curve.
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A unicorn is a young company with a market value above $1 billion, and thankfully outside the “buy now, pay later sphere” there are some others emerging on the Australian bourse.