Foresight and perseverance are guiding zero5 CEO Jae Hyun Paik’s visionary efforts to modernize parking infrastructure. With autonomous vehicles on the horizon, Paik recognized the need to transform outdated systems to accommodate tomorrow’s mobility. Driven by this insight and his engineering expertise, he co-founded zero5 to develop an AI-powered platform futureproofing parking operations.
From the startup’s inception, gaining credibility for their unconventional approach proved a hurdle. Undeterred, Paik and his co-founder demonstrated zero5’s value through persistent outreach. Their dedication paid off as clients experience streamlined management improving efficiency. Now, zero5 analyzes petabytes of parking data daily, yielding actionable insights that maximize revenue and optimize the user experience.
Paik’s leadership navigates challenges as zero5 steadily expands. With each success, they further fulfill their mission to bridge innovation gaps. Looking ahead, AI integration will realize their ambition to automate the parking process end-to-end.zero5 is primed to reshape infrastructure supporting autonomous driving. Paik’s story illustrates how envisioning disruptive change and seeing efforts through establishes industry leaders. This interview offers entrepreneurial insight for optimistically addressing today’s problems with tomorrow’s solutions.
1. Please provide a brief introduction of yourself and your professional background.
UCSD-trained mechanical engineer. Engineer at Nokia, Microsoft, Amazon, and Misfit Wearables. I immigrated here from Korea as a teen and had a passion for cars and transportation
2. Please tell us a bit more about your startup – what does it offer, what problem does it solve, and who is your target audience?
The initial idea started from a simple question – if people are talking about cars driving themselves, how would these autonomous vehicles handle parking? Would they need robotic arms to navigate in and out of parking garages? It didn’t make sense to me how outdated our infrastructure around parking was. In the 21st century, we were still stuck with 20th-century technology when it came to parking. This curiosity drove us to explore why this gap existed and how we could innovate to bridge it.
Our platform solves the problem of outdated and inefficient parking systems using AI. This enhances operational efficiency and prepares cities for tomorrow’s transportation.. Our target audience includes property owners, real estate developers, and urban planners looking to optimize parking operations and integrate advanced technology for a future-ready experience.
3. What inspired you to start your own business? What was the “aha” moment?
The moment we decided to pursue our startup idea came when we saw the inefficiency in parking operations firsthand. People were heavily involved in day-to-day tasks, managing stacks of paper and juggling multiple Excel sheets. And how hard stamps, paper clips and staplers worked. We quickly realized how unreliable the data could be and how costly these operations were. We knew that what we envisioned could not only streamline current operations but also have a significant impact on the industry. This motivated us to take the leap and start our business.
4. What were some of the biggest initial challenges you faced in getting your business off the ground? How did you overcome them?
One of the major challenges we faced in the early days of our startup was that we were not considered “insiders.” Neither Sarah nor I had a background in parking or real estate, which made it difficult to gain credibility in general. Those who agreed on the problem didn’t view us as someone who could solve the problem because of our background – we weren’t graduates from top universities with computer science backgrounds, nor did we have experience at companies like Google or Meta. We certainly had to overcome these perceptions.
We overcame setbacks and challenges by actively selling our vision and our product. We went door to door with donuts and coffee in hand, and it landed us our first pilot location. From there, we secured our first real client and grew from there. As people started seeing what we were building, they began to believe in our potential. While we haven’t fully overcome all perceptions and challenges, we tackle them one by one, using every “no” and “you can’t do it” as fuel to keep pushing forward.
5. What has been your approach to funding your startup? Did you use your own savings, seek investors, crowdfund?
Our approach to funding zero5 started small with our own initial savings. We then raised a family and friends round, followed by a Pre-Seed round from a hardware company in the parking industry that shared our vision. In 2021, we secured a Seed round from a VC that invests in mobility. Now, as we continue to grow, we are raising our next funding round to further expand our operations and enhance our platform.
6. What have been your key strategies for growth and gaining traction/users?
We are continuously working on refining our growth strategies. For customer acquisition, we’ve focused on building strong relationships and demonstrating the value of our product. Word of mouth and referrals have also played a significant role. In terms of team expansion, we’ve prioritized hiring individuals who share our vision and have a strong willingness to learn and adapt. While we’re still developing and improving our strategies, these foundational approaches have helped us gain traction and grow steadily.
7. How do you stand out from the competition in your space? What sets your product/service apart?Our deep integration of AI and technology into parking infrastructure sets us apart from other players in the market. Our holistic approach addresses the entire parking operation. Our platform offers property owners seamless access to comprehensive reports, data analytics, revenue control, event parking planning, and valet control.
Additionally, our data-driven approach uniquely positions us to prepare cities for autonomous vehicles by collecting, analyzing, and sharing valuable mobility data. By focusing on both current needs and future advancements, we provide a solution that is not only efficient and user-friendly but also future-ready.
8. What do you know now that you wish you knew when you were first starting out?
I can’t always do what I want to do. I quickly realized that staying in my bubble or comfort zone isn’t an option. There’s a constant struggle between what you want to do and what you need to do. As a founder, it often becomes more about focusing on what needs to be done to move the business forward, even if it means stepping out of your comfort zone. I wish I spent more time learning the skill sets I knew would be important but I did not enjoy.
9. What are the most important skills someone needs to be a successful founder, in your opinion
Successful founder must not let others change their mind or vision. They just keep at it no matter what others say. Learning how to code is easy. Being persistent and resilient is not.
10. What does a typical day or week look like for you? How do you manage work-life balance?
A typical day for me starts with a call with the team to sync up on daily tasks and priorities. After that, I focus on customer calls, checking in with existing customers to ensure everything is running smoothly and reaching out to potential new clients. I’m still heavily involved in the development of our product, so I dedicate time to coding whenever I can. Managing work-life balance is challenging, but I make an effort to set aside time for personal activities and family to ensure.
11. What do you find most rewarding and most challenging about being an entrepreneur?
The most rewarding aspect of being an entrepreneur is seeing the excitement and satisfaction of people using what we’ve built. Knowing that our technology positively impacts their daily lives is incredibly fulfilling. On the other hand, the most challenging part is that you never know what the “right” answer is. As a team, we have to navigate through uncertainties together. As a leader, I guide the team in certain directions, and my decisions aren’t always right. Acknowledging mistakes and moving forward is crucial to our progress and success.
12. What are some future goals or plans you have for your business in the next few years?
AI parking management agent. We believe that integrating technology into daily operations is the true copilot for parking management, unlocking the next generation of parking solutions that are more efficient and user-friendly.
Our vision is to deeply integrate technology into building the next generation of infrastructure, focusing on a market that is often overlooked but ripe for disruption. By addressing the gaps in parking and mobility infrastructure, we aim to support everything from today’s vehicles to fully autonomous ones, playing an integral role in the future of transportation.
13. What advice would you give to aspiring entrepreneurs who want to start their own company?
Enjoy the highs and the lows. When you receive bad news or someone tells you “no,” it can feel like the worst thing in the world. Don’t let that change your mind or your vision. Remember the story of The Tortoise and the Hare—just keep at it no matter what others say. Persistence and resilience are key to the entrepreneurial journey.
Paik’s experience underscores the value of identifying lacking yet vital modernization, as well as persevering despite doubts. zero5 demonstrates how envisioning technological progress drives meaningful innovation even in overlooked areas. Their work installing future-ready systems empowers others to follow their lead upgrading dated operations for a new era of mobility.
