2023 was a tough year for early-stage founders and VC funds around the globe, and Hong Kong was no exception. While the fundamentals of Hong Kong have shaken and shifted, 2023 was a year where much of the foundational work of building an innovation scene was done. Here are my two cents on what to expect in Hong Kong for 2024 in the early-stage startup scene, organized by opportunities and challenges:Opportunities1. Lots of dry powder waiting to deploy in HKIn 2023, local and global GPs secured fresh funding to be deployed specifically to companies with a Hong Kong nexus, thanks to the setup of the Hong Kong Growth Portfolio. Coupled with a stagnant IPO market, HK startups are faced with an even tougher market compared to other comparable startups in other regions.