- The Mi Crowdfunding platform allows users to help Xiaomi decide which products to sell in India
- Two products are currently listed on the Mi Crowdfunding page on Mi.com
- Xiaomi aims that this initiative will help it to sell its "innovation-driven products"
- India is the first country outside China where the platform has been launched
Xiaomi has announced Wednesday, April 4 the launch of its crowdfunding platform - 'Mi Crowdfunding' - in India. The unique program presents users with an opportunity to help the Chinese manufacturer in deciding which products to release in India.
Under its crowdfunding program, Xiaomi will curate a list of "innovation-driven products" that it will sell only after a certain number of users show interest in the product and end up buying it. In case a particular product fails to meet the sales target in a set timeline, the product will be taken off the market and customers will get their money back.
For a start, Xiaomi has put up two products that the company is planning to bring to India under the crowdfunding platform on Mi.com. The first product is the Mi Selfie Stick Tripod, which is priced at Rs 1,099. As the name suggests, it is both a selfie stick and tripod combined into one. The Mi Selfie Stick Tripod (Product link) comes with a Bluetooth shutter remote and features Bluetooth 3.0 connectivity.
Apart from that the Mi Selfie Stick Tripod can rotate 360-degrees and comes with an adjustable grip to accommodate larger smartphones like the Mi Max 2. The product is available in only the black color variant and will be shipped within 10 days from the date of order.
The second product listed on the Mi crowdfunding platform is a Bluetooth Audio Receiver (Product link) that has been priced at Rs 999. The wireless Bluetooth device comes with a single key that lets the users turn on the earphones, connect to Bluetooth, play and pause music and answer calls. The Mi Bluetooth Audio Receiver comes with Bluetooth 4.2 connectivity and a headphone amplifier chip.
The Bluetooth Receiver has a 97mAh battery which Xiaomi claims can fully charge within 2 hours and deliver 4 to 5 hours of continuous playback. It is available in a white color variant only.
The crowdfunding program has been launched as part of the ongoing Xiaomi Mi Fan festival which will conclude April 6. The company is offering discounts and offers across a range of products on its website Mi.com, Mi Home stores, as well as partner channels.
How to participate in Mi Crowdfunding?
In order to enter the Mi Crowdfunding program, you will need to select the products listed under the program and click on 'Support Now' and proceed to place the order.
Following this, you can choose any online payment mode and pay within the defined timeline on the payment page. There is a bar displayed on the product page where you can check for the progress round-the-clock. Notably, the product is considered fit for sale once the bar reaches 100 percent within the defined timeline.
In case you change your mind, you can cancel the order before it is shipped.
Meanwhile, India is the first country outside of China where Xiaomi has launched its crowdfunding platform. The company aims that the platform will help them understand the Indian customers' sentiments for products that are not yet part of its portfolio.
In China, Xiaomi runs its crowdfunding platform by listing products manufactured by the startups the company has invested in and customers can book them, thus helping the startups raise funds in the process.
Recently, Xiaomi announced that it will invest Rs 6,000 crore to Rs 7,000 crore in Indian startups to expand its hardware and software ecosystem.
The crowdfunding program looks like a part of the initiative and Xiaomi's effort to diversify its interest away from smartphones in the country.