The overview
The McKinney Economic Development Corp. announced that Edenlux is expanding its U.S. presence to McKinney through MEDC’s Innovation Fund. Through the fund, Edenlux will establish its U.S. operations in McKinney and work with local partners, health care stakeholders and innovation organizations, according to an MEDC news release.
Edenlux is a digital health care company that specializes in artificial intelligence-powered vision wellness solutions. Its flagship product, called Otus, is a smart device that automates and customizes vision therapy for clinics, and helps eye care professionals deliver “consistent and effective training programs,” the news release states.
In a statement, MEDC President and CEO Michael Kowski said Edenlux is the “type of founder-led, mission-driven company” that the Innovation Fund was created to support.
“Their technology addresses a growing global challenge while bringing advanced innovation, clinical insight, and global perspective to McKinney,” Kowski said. “We are excited to support their entry into the U.S. market and their long-term growth in our community.”
About the company
Edenlux was founded by Sungyong Park after experiencing an eye-related injury during his service as a former military doctor in the South Korean Army. Park recognized a “critical gap” in eye care, according to the news release.
“Edenlux was born out of my own struggle with vision loss during my military service,” Park said in a statement. “I experienced firsthand how limiting it can be when your eyes can no longer keep up with daily life. Otus began as a personal solution, but it quickly became clear that millions of people face the same challenges. Our goal is to make eye wellness a daily habit, not something people think about only after problems appear.”
The Otus device uses AI to analyze users’ accommodative ability and automatically adjusts training intensity over time. The device features an open-view design, allowing users to train their eyes while reading, watching videos or using a smartphone.
Eye care professionals are able to remotely monitor progress while patients complete guided training at home.
More information
The MEDC created the Innovation Fund in 2020 to offer grants to technology startups. The fund’s primary goal is to encourage companies to open in or relocate to McKinney while leading to job growth.
Grant types offered by the Innovation Fund include:
- Growth: a grant of up to $200,000 to support early-stage technology startups
- Expansion: a grant of up to $500,000 for startups seeing rapid growth
- Relocation: a grant of up to $500,000 for startups that relocate their primary headquarter facilities to McKinney
