Reimagining Hong Kong’s Transportation Network Through Technology
Welcome back to the Innovative Business Visions Series, where we bring our alumni’s phenomenal entrepreneurship and innovation stories to you. Next in the series is Jason YUEN, BBA in Operations Management and Marketing (2018), Co-founder and CEO of SOCIF.
From Minibus Frustration to Entrepreneurship
Hong Kong’s minibus system is notorious for its erratic arrival schedule. Jason’s time at HKUST was marked by frustrations waiting for the minibus to take him to the university’s Clear Water Bay Campus. But this frustration inspired Jason – then a year two student – to create an ETA (estimated time of arrival) system that would help students and staff get to and from campus on time.
In just five years since its inception, SOCIF has evolved into an award-winning startup poised to transform Hong Kong’s transportation network through technology. Keep reading as we delve into Jason’s remarkable entrepreneurial journey.
From Friendship to Entrepreneurial Spark
Jason met his two co-founders at a student-led volunteering group at HKUST – who studied computer science and engineering. United by a shared goal to make a positive impact on the HKUST community, the dynamic trio diligently collected data to develop a prototype throughout year two, laying the foundation for SOCIF.
However, Jason’s initial university aspiration was focused on completing a double degree rather than entrepreneurship. His perspective shifted upon meeting his first roommate in year one – a computer science student from overseas who was passionate about innovation and entrepreneurship. This encounter exposed Jason to fundamental entrepreneurship concepts, from identifying pain points to developing a genuine passion to formulate new solutions and solve these issues effectively.
Honing Core Entrepreneurial Skills at HKUST
Reflecting on his time at HKUST, Jason attributes acquiring vital soft skills, including his people, communication, and presentation skills, to his university education. These skills have been instrumental in his role as the only non-technical co-founder of SOCIF. “People are the core of any business,” Jason emphasizes. “Understanding their needs and concerns is crucial for mutual growth.”
Jason’s involvement in various student initiatives before SOCIF also allowed him to hone his negotiation skills. Through collaborating with HKUST’s Dean of Students’ Office, he learned the art of negotiation to create win-win situations.
“I’m grateful for HKUST’s support, empowering students to experiment with innovation and networking,” he recalls fondly. “I was able to seek faculty advice and tap into the alumni network for exposure.” Thankful for these experiences, Jason now reciprocates by offering HKUST student placements at SOCIF to gain real-life work experiences.
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Left: SOCIF received a Merit award in the Tertiary Student Track in the 2019 Asia Pacific ICT Competition.
Right: Jason (in the middle) and his partners are the masterminds behind USTransit and have true passion to transform Hong Kong into a smart city.
Overcoming Obstacles and Scaling Up
With various innovative projects in the pipeline, SOCIF is rapidly expanding its presence in Hong Kong. However, scaling a startup presents significant challenges. Jason acknowledges learning valuable lessons from his mistakes as he grows as an entrepreneur. “As co-founders, we’re at a turning point where we must redefine our roles to focus on steering the company,” he explains. “Our next challenge will revolve around recruitment and expanding our team.”
Despite the challenges ahead, Jason maintains a proactive mindset – a valuable quality that he developed throughout his university education, from gaining fundamental business concepts and solving business case studies to actualizing new ideas – as he advances with SOCIF’s expansion. “SOCIF transformed from a personal frustration to a professional passion. As the company grows, I need to gain more knowledge and experience quickly. This way, I can effectively coach and transfer my experience to new team members when they come on board.”
Towards the Next Five Years and Beyond
Celebrating its fifth anniversary in November 2023, SOCIF has already launched several self-developed solutions, including a mobile app that provides accurate ETA information for public users and a new MoD (mobility on demand) platform that offers smart, mid-priced transportation options. Beyond Hong Kong, SOCIF’s global expansion includes a partnership with a distributor in Africa and exploring fresh business opportunities in Australia.
The future of SOCIF holds infinite excitement and uncertainty. “Unlike established corporations, every startup faces uncertainty,” Jason enthuses. “It’s through uncertainty that we gain experience and uncover new opportunities. This is how startups thrive.”
